Ashurst sees revenues fall by 14% for first half of financial year

Ashurst has seen revenues fall by 14% for the first half of the financial year, becoming the latest firm to post a double-digit decrease in turnover at the half-year stage. The UK top 20 firm saw revenue levels drop to £136m for the period ending 31 October after a challenging six months. Managing partner Simon Bromwich said: "Our half-year revenue result reflects the tough markets we have seen over the last twelve months and a relatively strong first half last year. "Conditions are still challenging, but activity levels have picked up and we feel confident about the second half of this year and beyond." Last year Ashurst posted a 7.5% turnover increase at the half-year point, climbing to £158m, despite the effects of the slowing market on the firm's private equity, leveraged finance and structured finance practices.

Ashurst sees revenues fall by 14% for first half of financial year legalweek.com Mon, Nov 30, 2009