Revenue at Matthew Arnold & Baldwin stayed relatively flat at £13.5m last year compared with £13.6m in 2009-10 and still short of the 2008-09 figure of £14.2m.
The firm’s litigation practice racked up 50 per cent of total revenue in 2009-10 (£6.8m), but this dipped to 36 per cent last year (£4.86m). Conversely, revenue in the corporate practice grew from 9 to 19 per cent (£1.2m to £2.6m).
Average work-in-progress at the South East firm increased from 66 to 74 days, while average debtor days crept up from 75 to 86 days, well in excess of the firm’s lockup target of 120 days.
Notable hires during the year included that of Mark Sellers, who joined as a partner in the firm’s London commercial property department from Barlow Lyde & Gilbert, and Verona Cocks, who joined as a partner from Weightmans. This brought the total partnership headcount to 32.
The firm’s clients include Barclays, Santander, MySupermarket.co.uk and Groupon.