Mixed half-year results picture

Big UK firms have endured mixed fortunes so far this year, with the half-year revenue estimates released so far showing large variations in growth.

At the top end of growth, City firm Trowers & Hamlins estimated fee income up 16% to £42m for the first half while, at the bottom end, national firm Eversheds estimated fee income down 4% to £188m.

Double-digit revenue growth was predicted by City firms Lovells (up 15% to £260m), Norton Rose (up 11% to £141.5m) and Clyde & Co (up 10% to £83.6m), while Allen & Overy – the only magic circle firm to have released its half-year estimate as the Gazette went to press – reported turnover up 11% to £548m.

Declining income was reported by Birmingham firm Wragge & Co (down 6% to £56m) and City firm Addleshaw Goddard (down 2.8% to £94.7m).

Single-digit growth was reported by City firms Ashurst (up 7.5% to £158m), Denton Wilde Sapte (up 6% to £78.3m) and Simmons & Simmons (up 5.5% to £143.5m) and north-west firm Halliwells (up 4.8% to £44m). City firm Nabarro reported no change (£64m).