National firm Eversheds today reported a 6% fall in half-year turnover but said it is ‘cautiously optimistic’ that its performance will improve.

Revenues for the six months to October 31 stood at £178m, down from £188m for the same period in 2007/08.

Chief executive Bryan Hughes said that revenue in the first half of the year improved on the preceding six months, and profitability improved year-on-year.

The firm’s HR and litigation practices performed best, but its real estate and corporate practices continued to suffer.

Hughes said: ‘There can be no doubt that the legal sector has changed for good. While the economic situation remains challenging, the firm is in a strong position and we are cautiously optimistic that performance and market conditions will continue to improve.’

For the full 2008/09 financial year, Eversheds recorded a 6% fall in turnover to £366m and a 27% fall in profits per equity partner to £404,000.