Simmons’ turnover falls during first half of 2010-11

Simmons & Simmons has posted a three per cent drop in income for the first six months of the 2010-11 financial year.

Mark Dawkins
Mark Dawkins

The firm brought in £117.7m over the period, down from just over £120m for the comparable period last year (9 November 2009).

At the same time Simmons reported a 27 per cent rise in profit for the period through a combination of cost-saving measures.

Managing partner Mark Dawkins said: ”The small reduction in income can be attributed to a range of factors. These include a shrinkage of areas that are outside our strategic focus, such as the closing of the Padua office, and difficult business conditions, especially in Western Europe where transactional practices have been affected by Eurozone uncertainty.

”Our business is, however, aiming for growth and there are encouraging signs. Most notably, growth in our core sector client programmes during this period is running at 16 per cent,” he added.