CMS Cameron McKenna has become the latest top 20 firm to post a drop in fee revenue for the first half of the financial year.
Camerons saw its revenue drop 13 per cent against the first six months of 2008-09, bringing in fees totalling £95.3m.
The figure for the same period last year was £116m although this included fees from the firm’s Moscow office, which became an independent entity in January 2009. The like-for-like 08-09 figure was £110m.
The firm reported growth in TMT, life sciences and insurance sectors, with its dispute resolution group showed a growth in revenue of 8 per cent. Meanwhile, transactional areas of the business – such as corporate and real estate – have suffered in line with a declining market.
Camerons’ alliance firms elsewhere in Europe are said to be reporting stronger performance. In Germany, CMS Hasche Sigle is said to have seen revenue grow by around 10 per cent.