Cobbetts has posted a marginal turnover rise for 2010-11 alongside a slight dip in profits, after much of the firm's staff returned to full-time work following 12 months on reduced hours.

The firm saw turnover rise 1% from £43.8m to £44.5m during the 2010-11 financial year, while net profits fell from £10.5m to £10m.

The results come after Cobbetts' transactional teams and support services staff returned to full-time work in May 2010 after operating a four-day week from May 2009. The move came at a cost of £1.9m to the firm.

Managing partner Michael Shaw (pictured) commented: "When we introduced a four-day working week in May 2009 it was with the aim of balancing our expenditure against revenue until some market growth was evident."

By practice area, the firm's big improvers were real estate, which saw turnover grow by 7%, and the technology, media, telecoms and infrastructure group, which grew by 8%.

Shaw added: "During the last 12 to 18 months we have begun to see what we believe to be the early signs of sustainable growth in a number of areas – particularly those of real estate planning and public service delivery, but also in banking litigation and international corporate work."

Cobbetts, which conducted three separate redundancy rounds during the financial crisis with 69 jobs going across the firm, implemented a four-day working week for all fee earners and support staff across its transactional practices in May 2009, which it then extended in August 2009.

Staff working in dispute resolution and private capital were unaffected.