Watson Farley & Williams and DAC Beachcroft have reported their half-year results, growing by 13.6% and 1.2% respectively during the first half of the financial year compared to the same period last year.

Watson Farley recorded revenue of £67.6m for the six months to 31 October 2016 – a double-digit rise on the previous year's figure of £59.5m.

Watson Farley co-managing partner, Chris Lowe, said: "The past six months have seen significant market volatility due to events such as the Brexit vote, but this is something the firm is well placed to manage, especially within our core sectors, and we will continue to develop and prosper in these, notwithstanding the challenges that will invariably arise."

Lowe added: "There is a currency element in there, as well as growth of product and utilisation. We are happy on both counts, both on the currency hedge and [the fact] we have 30-plus more fee earners than we did last year and they are busier on a per capita basis than they were last year."

Co-managing partner, Lothar Wegener, said: "This excellent result demonstrates that the significant investments the firm has made to empower our core practice groups through significant lateral hiring, as well as through internal promotions, are clearly paying off."

The firm's full-year results for 2015-16 saw revenue growth of 5%, from £125.2m to £131.2m.

Meanwhile, DAC Beachcroft has announced half-year revenue of £102m, which represents a 1.2% increase on the same period last year.

In its full results for 2015-16, the firm grew revenue by 1.6% to £202m and increased its profit before tax by 9%, from £32m to £35m.

DAC Beachcroft managing partner David Pollitt said: "We have managed to trade through some difficult market conditions in the first six months of this financial year, hitting the tough targets we set ourselves at the beginning of the year.

"Our immediate strategy remains to focus on achieving operational excellence while our continued drive for improved profitability and a focus on good business discipline are also showing results."

He concluded: "We have some key strategic initiatives that we anticipate will come to fruition in the coming months and we feel that our business remains well placed to build further on these results."

Other firms to have released their H1 results this year include Allen & Overy, which recorded an increase in total turnover of 13% to £731m, compared to H1 last year.

Meanwhile, Fieldfisher posted a 10% increase in revenue compared to H1 the previous year, with fee income increasing to £64.1m from £58.4m.