Olswang fees up 4 per cent at half year stage

<a class=Olswang fees up 4 per cent at half year stage” />Olswang has posted growth of four per cent for the first six months of the 2008-09 financial year.

The firm brought in revenues of £44.4m over the period compared with £42.6m during the same period last year. At the end of the 2007-08 financial year its revenue stood at £92.9m.

Chief executive Kevin Munslow (pictured) said: “Our results for the first half of the year are a reflection of particularly robust performances in the litigation and commercial groups, and the Brussels office.”

Both litigation and commercial have surpassed budget, growing by around 10-11 per cent each. However, real estate and corporate have not grown.

Munslow said: “Olswang remains well positioned as we look ahead to the second half of the year supported by investments made in all of the firm’s practice groups, including an outstanding media team in the Berlin office, and further high quality competition and new IP capability in the Brussels office.”

The firm is budgeting growth of between five and six per cent for the full year. Senior partner Mark Devereux said: “We’re monitoring our underlying activity levels on a day-to-day basis and they are consistent with the first half.”

Utilisation rates are understood to be slightly lower than at the same time last year.