It’s a depressing week for doom-mongers because the first indications on the half-year results for 2010-11 are pretty clear: business is picking up pace for commercial law firms.
Earlier research from Deloitte had already shown that fee income was up 5% annually in the first quarter of the current financial year, though that came against a weak previous quarter. In contrast, the full half-year included the second quarter of 2009-10 as a comparison point, which was the first period in which many firms began to see signs of modest recovery after a prolonged battering in the wake of the banking crisis that gripped the markets in late 2008.
