Eversheds has announced its half-year financial results, reporting a 3% drop in turnover against the same period in 2009-10.

The firm saw revenue fall to £172.6m, down from the figure of £178m reported last year.

The results are in line with Eversheds' end-of-year results announced in May this year, when the firm posted a 3% revenue drop to £355m.

Eversheds chief executive officer Bryan Hughes (pictured) said: "Our business model is still robustly withstanding the rigours of the market, with margins and cashflow strong.

"While it is always slightly disappointing to see the top line move back, our half-year position is pretty much in line with expectations. The bulk of our business units are performing in line with or ahead of expectations, and the overall results being pulled down by underperformance in one or two specific areas."

In August Eversheds began its fifth round of redundancies in two years, with up to 100 roles placed under review as the firm prepares to outsource back office functions to Accenture.

Meanwhile, Watson Farley & Williams has also announced its half-year revenues, posting an 11% increase to £37.6m, up from last year's H1 figure of £33.9m.

This summer the firm reported a 9.1% increase in turnover in the 2009-10 financial year, with revenues rising to £80.2m from £73.5m.

Managing partner Michael Greville said: "We are pleased with the half-year billing, which is comfortably ahead of last year. With a reasonable pipeline of work across the firm for the coming months this appears – so far at least – to be another strong year for the firm."