Cobbetts counts cost of 30-partner cull

Well, you have to hand it to Cobbetts. While managing partner Michael Shaw admits that “it has obviously been a difficult early part to the financial year”, the firm has managed to boost turnover by 2.5 per cent, from £24.2m to £24.8m.

“Only 2.5 per cent?”, we hear you say.

Well, considering the firm is going into the new financial year having lost 30 partners to hold turnover static in the first six months is no mean feat. The Cobbetts line is that, to increase turnover, however small the amount, is impressive.

However, this time last year half-year turnover was up by 18 per cent. This year half-year turnover is up by only 2.5 per cent. So some of those 30 partners must have been bringing in some cash. Perhaps the tricky year wasn’t all their fault.