Latest figures from Deloitte's quarterly legal sector survey show that fee income at the UK's top 100 law firms fell by 5.7% in the second quarter of 2009-10, with this drop almost doubling to 10.5% at the UK's top 10 law firms.
This is the third consecutive quarter to have seen fee incomes fall across the legal industry's top 100.
In stark contrast, Thames Valley law firm Boyes Turner reported a 5.6% increase in fee income for the same period. Having reported a rise of 4.5% in the first six months of the 2009-10 financial year.
Whilst the same survey also shows a 3.5% drop in fee earner headcount across the legal industry's top 100, Boyes Turner has increased headcount by 5.3% over the same period and is still actively recruiting.
Boyes Turner chief executive Andrew Chalkley puts the firm's strong position down to having a balanced business coupled with a willingness to invest for the long term and a wholehearted commitment to marketing adding: "Experience has taught us not to be complacent but to keep things under constant review and be ready to spot and exploit opportunities that the economic climate presents."
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