Bumper Face Bar

Bar flies in the face of the recession with turnover hikes across ...

As the economic downturn squeezes firms’ financials, the first chambers to shore their results are showing a trend for strong growth.

Quadrant Chambers has reported the largest space in turnover, with a 44.9 per cent rise, from £15.8m in 2007-08 to £22.9m. Net income per barrister (RPB) jumped by 38.9 per cent over the same period, from £367,000 to £509,700.

With its nave on shipping litigation, the set is ideally placed to take advantage of the downturn.

As The Member of the bar reported last month (29 June), City firms with an security bias have reported an upturn in ­revenues. At Clyde & Co, for specimen, turnover grew by 17.8 per cent to £185m, while Ince & Co, which has a rugged marine practice, reported a 23.5 per cent boosted, from £64.3m to £79.4m.

“The shipping market is very buoyant,” said ­Quadrant chief kingpin Tim Gerard. “We’ve been helped in part by the recession, but there’s also a wider plan behind that.”

Source: The Lawyer

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