Bevan Brittan‘s half-year results show turnover growth of only 1 per cent on the same period last year.
In the previous full financial year 2007-08, Bevan Brittan’s turnover increased by only 1.5 per cent, from £41.1m to £41.7m.
Bevan Brittan chief executive Andrew Manning said in a statement: “I am very pleased to report such a strong set of results for the past six months, particularly in the face of the current tough economic environment and following a period of considerable internal change.
“This performance is testimony to the quality and positive attitude of everyone at the firm.”
Manning said that the results were due to strong growth in several departments which offset the downturn in other areas.
He added that after a series of cost reduction initiatives, profits increased “substantially,” with margin percentages now at a five-year high.
When Manning was elected as chief executive earlier this year he vowed to reverse the firm’s fortunes, setting the ambitious target of improving profitability by 37 per cent by the 2008-09 year end.
This will put the firm at profits of £8.4m at the next year-end, lower than £9.6m reported in 2006-07 (TheLawyer.com, 28 August).