Simmons & Simmons has become the latest firm to announce its half-year results, posting a 5% increase in fee income for the first six months of the 2016-17 financial year.

The firm brought in £149m between May and October this year, up from the previous year's figure of £142m.

The 5% figure compares to a 1% rise in revenue during the first half of the 2015-16 financial year, when Simmons went on to post a 2% increase in revenue for the full year, alongside a 10% drop in profit per equity partner (PEP) to £585,000.

Half-year results announced to date by other firms have ranged from a 1.2% increase at DAC Beachcroft up to 13.6% at Watson Farley & Williams, while Allen & Overy (A&O) and Fieldfisher have posted 13% and 10% hikes respectively.

Hoyland told Legal Week: "I think they are pretty good numbers. Market conditions are difficult; you can see that with the trials and tribulations other firms are experiencing."

He highlighted disputes as a standout practice area, and said that TMT and life sciences had performed well. But he added that the firm's transactional practices had been hit by the impact of this summer's Brexit vote.

By region, Hoyland said activity levels rose across France and the Middle East. "Most of our French practice is contentious and we also focus on life sciences there. Those areas are doing well," Hoyland explained. "In the Middle East, I don't think market conditions are that good, but we had a bit of a restructure and that has gone well for us."

Simmons closed its Abu Dhabi branch in early 2016, leaving it with offices in Dubai, Doha, Jeddah and Riyadh in the region.

Hoyland also said currency fluctuations had contributed to the revenue increase. The pound has fallen against many global currencies including the euro during the past 12 months, artificially inflating turnover figures for firms with larger international presences.

"Clearly there's a currency impact that will vary from firm to firm – depending on how big you are in Europe, it can have quite a significant effect. You lose something with Brexit and win something with the devaluation as a result."

Going forward, Hoyland said he remained concerned about the impact of Brexit. "It is really difficult at the moment. The markets are getting a bit stronger but I'm skittish about how sustainable it really is – if we come out of the common market that will be bad for business."