Herbert Smith has been the year’s outstanding performer so far as UK firms begin to take stock at the half-year stage.
Herbert Smith’s finance department has driven a 25 per cent increase in the firm’s turnover, compared with the first six months of last year.
“Finance has been the best performer, growing by more than 25 per cent. Paris has done particularly well and Dubai has already achieved its full-year target and it’s only half-way through,” said a firm spokesperson.
Freshfields Bruckhaus Deringer leads the magic circle with fee-income of £560m, an increase of 19 per cent on last year.
Allen & Overy was the first firm officially to reveal its figures on Friday (2 November). Turnover was up by 18 per cent to £422m. Clifford Chance has yet to do its sums, but expects similar results after a strong first four months of the year and a fantastic October. Linklaters is expecting a 20 per cent rise.
Ashurst continued last year’s growth trajectory, boasting a 25 per cent increase on fee income from £117m to £147m.
Norton Rose‘s half-year figures are up by 23 per cent on this time last year.