City firm Denton Wilde Sapte has emerged as the top performer among firms that have reported half-year financial results so far, as the only firm to increase its fee income.

Revenues at the firm for the six months to October rose 3.5% to £87.7m, up from £84.7m over the same period last year. Chief executive Howard Morris said he was confident of strong performances in several practice areas and offices over the next six months.

Meanwhile, City firm Simmons & Simmons emerged as the worst performer to date, seeing revenues fall by 16% to £120.3m, from £143.5m last year. The firm blamed the drop on the cost of redundancy payments and office closures in Portugal and Russia.

Magic circle firm Allen & Overy also reported a drop in fee income, down 7% to £511m from £548m last year, while national firm Eversheds reported a 6% fall to £178m, down from £188m last year.

Tony Williams, principal at management consultants Jomati, said that he expects average turnover to be down 5-10% on last year, owing to reduced sterling currency gains and the fact that last year’s half-year results were less affected by the economic downturn.