Walker Morris year-end figures prove disappointing

Walker ;Morris ;has announced a turnover rise of just 0.6 per cent. Revenue was £48m in the last financial year, up from £47.7m.

Chairman Peter Smart blamed the closure of the matrimonial practice last year and the sale of the volume ;conveyancing business in August 2006.

“Those two contributed more than £5m. Despite that turnover ;grew ;slightly, reflecting strong growth in most areas,” he said.

Corporate revenue grew by 20 per cent and commercial dispute resolution by 31 per cent. The commercial property and planning practice’s turnover fell slightly.

Smart predicted that average profit per equity partner would be similar to last year’s £672,000.

For more on the financial results at all the top firms as they come in, see our Top of the PEPs 2008 blog here