Outer Temple Chambers has posted a record turnover of £15.8m for 2007-08, with the financial services practice seeing its revenue jump by 150 per cent.
Last year the chambers brought in £13.5m, but this year the figure has increased by 17 per cent.
Outer Temple business development director Derek Jenkins said the good year was down to the set’s focus on growing five key areas and building its offering in the Middle East.
“Our financial services group saw a 150 per cent increase after beginning from a standing start,” said Jenkins. “The area has really started coming up through increased Financial Services Authority enforcement and secondments.”
In addition, the set saw commercial grow by 70 per cent, employment was up 39 per cent, pensions by 55 per cent and personal injury 35 per cent.
Jenkins said: “The opening of our Abu Dhabi annex has really opened up the Middle East for us. It has proved extremely successful and has attracted new clients. Also our move into direct public access work has been a good source of income and that too has contributed to growth.”
Outer Temple made its first foray into direct access last year and within six months added £500,000 to its coffers (The Lawyer, 23 July 2007).