Addleshaw fee income slips

THE recession pushed down annual fee income for lawyers Addleshaw Goddard, which has a significant presence in Yorkshire.

The firm said fee income for the year to 30 April was 167.5m, a 3.3 per cent fall on the previous year.

Addleshaw Goddard has an office in Leeds, where it is one of the "big six" practices which felt the pinch during the economic slump. Industry figures say, however, that the market has begun to pick up on the back of an increasing number of deals and investment from private equity houses.

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Nationwide Addleshaw saw a 5.19 per cent rise in profit per equity partner for 2009-10, from 405,000 to 426,000. The firm also published its divisional income split, showing 62.5m for contentious and commercial, 27.5m for corporate, 37.2m for finance and projects and 36.5m for real estate.

Paul Devitt, managing partner, said: "To have generated income which is down only a little on the previous 12 months feels ok in such a challenging year.

"Most encouraging of all, though, is the progress we made through the year: our performance climbed steadily, and in recent months, more strongly still across the business."

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