Camerons sees fee income rise 5% at half-year stage of financial year
CMS Cameron McKenna has posted improved revenues at the half-year stage, with the firm reporting a 5% increase on the same period last year. The UK top 15 law firm has recorded fee income of £100m for the 2010-11 financial year so far, after last year posting a 13% fall in revenues at the H1 stage.
December 07, 2010 at 10:31 AM
2 minute read
CMS Cameron McKenna has posted improved fee income at the half-year stage, with the firm reporting a 5% increase on the same period last year.
The UK top 15 law firm has recorded fee income of £100m for the 2010-11 financial year so far, after last year posting a 13% fall in revenues at the H1 stage.
Commenting on the improved numbers, Camerons managing partner Duncan Weston (pictured) said: "The fundamentals of our business are extremely sound and our three-year strategic review has set a clear direction.
"We have had some great new business wins and our sector approach continues to deliver with significant growth in the areas of energy and financial services and we are also benefitting from the pick-up in private equity activity."
Recent client achievements for the firm included winning spots on the new Royal Mail panel as well as securing role on BG Group's legal roster.
Several City firms have reported improved H1 results on last year, with Berwin Leighton Paisner a standout performer after posting a 30% rise. Among Camerons' immediate peer group, Simmons & Simmons recorded a marginal revenue decrease for the period, while Pinsent Masons saw revenues rise 0.5% to £98.3m.
Camerons posted an 11% decrease in turnover to £214.4m for the full 2009-10 financial year, while profits per equity partner dropped by 18% to £452,000.
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