Beachcroft has failed to hit budget for 2007-08 after posting an increase in turnover of just 2.5% for the last financial year, with fee income at the national firm hitting £114m.

The firm admitted that the performance was “less than budgeted” but stressed that the small rise in revenue had come off the back of a bumper 2006-07 that saw the firm break through the £100m turnover barrier for the first time.