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Scottish firm Semple Fraser had a strong 2010-11, with turnover growing by 11 per cent to £12.3m from the previous year’s disappointing £11.1m. In particular, the firm’s 13-partner property practice grew by 13 per cent. Litigation continues to provide 11 per cent of revenue, while the firm’s corporate team contributed 7 per cent.
The firm’s Manchester office, launched in October 2009, had an excellent year, with revenue quadrupling during 2010-11. Corporate partner Simon Wallwork was recruited during the year from Pannone, where he headed the corporate department.
Semple Fraser beat its 140-day lockup target comfortably, finishing the year with average an work-in-progress of 37 days and 76 debtor days.
While revenue grew, the total number of partners dropped by one, from 24 in 2009-10 to 23 last year. The number of qualified lawyers remained unchanged at 70.