The 10 largest law firms in France saw average turnover growth of more than 4% during the 2011-12 financial year, with international practices such as Clifford Chance (CC) and Baker & McKenzie among the fastest growers in the local market.

New research by French publication Juristes Associes shows that local firm Fidal remained top of the rankings, with revenues up 3.3% to €309.8m (£245m), followed by CMS Bureau Francis Lefebvre, which saw turnover rise 5% to €153.2m (£105m).

Meanwhile, Gide Loyrette Nouel was one of just a handful of firms among the French top 50 to see revenues fall, with the firm slipping from third to fourth place on the back of a 6.6% drop in turnover to €133.8m (£106m).

CC recorded an 11.3% increase in French revenues for 2011-12, staying ahead of magic circle firms Linklaters and Freshfields Bruckhaus Deringer among the top 10. Bakers' Paris arm also posted a double-digit revenue rise, up 11% to €81.6m (£64.5m).

Linklaters and Freshfields both posted marginal growth for 2011-12, reporting 2.2% and 1.8% increases respectively, while Allen & Overy boosted turnover by 7% to secure 12th place in the rankings.

CC Paris managing partner Yves Wehrli said: "The second part of 2011 saw firms bouncing back. The private equity market reopened, there were no liquidity issues and firms saw good business.

"However, this year has been more difficult – we saw a long 'wait and see' period with the presidential and parliamentary elections."

The 50 as a whole saw an average turnover rise of 7%, with just six – Gide, Latham & Watkins, Orrick Rambaud Martel, Jeantet, UGGC and Lefevre Pelletier – posting declining revenues, compared with 12 in 2010-11.

Bredin Prat managing partner Didier Martin said: "The past year has been a little tougher than the previous one. As everybody knows, M&A business is becoming more scarce – generally, clients are going to first-tier firms rather than third-tier ones.

"It's hard to predict what will happen in the next financial year."

France – Top five firms by revenue
Firm / Revenue / +/- change
Fidal / €309.8m / 3.3%
CMS Bureau Francis Lefebvre / €153.2m / 5.0%
Ernst & Young Societe D'Avocats / €133.8m / 8.1%
Gide Loyrette Nouel / €133.8m / -6.6%
Landwell / €113.8m / 0.5%

Source: Juristes Associes