Simmons & Simmons has achieved revenue growth of just 1 per cent at the half year, as turnover increased from £140m to £142m during the first six months of the 2015/16 financial year.

Despite managing partner Jeremy Hoyland describing the results as a “solid start to the year” revenue growth has slowed considerably since the same period last year when turnover grew by 8 per cent from £129m.

Turnover continued to grow at the same rate throughout the financial year with turnover rising 8 per cent, from £268.6m to £290.1m.

Speaking to The Lawyer Hoyland said: “Last year we had quite significant results. It was a high benchmark for us to grow from and I didn’t ever expect for us to grow at that level every year.

“What’s pleasing from our perspective is that it wasn’t a one off or a particular bounce. That’s our new level of performance and we’ve matched it and even improved on it a little bit.”

Hoyland also said that the firm had seen increased activity from its continental European practices particularly in France, Spain and southern Italy. However, the firm is looking to increase its focus on its fintech business including its portfolio of products and online services.

Simmons has launched a number of online tools that are available to clients on a subscription basis. In November the firm launched MiFID2 Manager, which advises companies on the regulations that apply within the UK and EU regions. Partner Charlotte Stalin led the team responsible for launching the product.

Simmons also has a strategic alliance with Canadian firm Fasken Martineau, which has recently scaled back its operations in Europe. In October Fasken Martineau launched a redundancy consultation that could see 70 positions cut from its London office. It also emerged that the firm has closed its four-partner Paris office.

Despite these cuts Hoyland said there had been no change in the volume of referrals coming from Fasken Martineau as the alliance largely focuses on the South African market.

DAC Beachcroft also recently released its half-year figures after revenue increased by 2 per cent from £98.8m to £100.8m. The results were the first to be announced since the firm elected its new management team in July. The elections saw insurance partner David Pollitt take on the role as managing partner while real estate partner Virginia Clegg is now senior partner.