With the turmoil in the economy, no-one is expecting to see stellar performances across the industry in the coming quarters. However, there are one or two firms that seem to be tugging on their chinstraps and pacing their way through as if it were just another day at the office!

For starters Trowers & Hamlins has exceeded its half-year budget of 15 per cent growth, posting a rise of 16 per cent on the first six months of the year. Revenues were up from £36.1m to £42m compared with the same period last year. Senior partner Jonathan Adlington said in The Lawyer : "We’re targeting 15 per cent growth for the full year. The second half is generally better for the overseas offices, which saw things slow down with Ramadan and the summer."

Norton Rose has also seen double-digit growth in its revenues during the same period, with an increase of 11 per cent to £141.5m. Again a strong driver of growth came from overseas particularly in Asia and the Middle East.

Ashurst had a big hill to climb if it was going to outstrip last years first half results which saw a titanic 25% growth in turnover. However it has managed an increase of 7.5 per cent this half-year which is nothing to be ashamed of in this environment.Ashurst’s revenue for the half-year is around £158m, which compares well to last half-year’s £147m.

Simmons & Simmons has  seen its turnover increase by 5.5 per cent over the first six months which, although positive, is just shy of its 7% target. That translates to an increase of almost £8m to £143.5m. Again it is understood that the Middle East and China played a strong part in maintaining growth for the firm.

On a less cheerful note…

Eversheds has seen turnover drop during the first six months off the financial year, with revenues sitting 4 per cent down on the same period last year. The early part of this year has seen revenues of £188m over the six-month period compared to £196m at the same time last year.

And Addleshaw Goddard has recorded a fall in fee income of 2.8 per cent to £94.7m in comparison to the first half of the last financial year which saw fee income of £97.5m.It is understood that this represents results 4% below budget.

So amongst those early to the field the results are none too disappointing; it’ll be interesting to see how things shape up as more results are released. Stay tuned…

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