Law firm Cobbetts has seen fee income rise to £20.5 million after a series of new client wins in the first half of the year.
The firm, which has an office on Colmore Square, recorded a three per cent increase in fee income in the six months to October 31.
It said the increase in revenue was supported by underlying growth of five per cent, “positioning the firm strongly for a robust full year performance”.
James Boyd, finance director at Cobbetts, said key areas of growth were litigation and corporate, which boosted fee income by nine and five per cent respectively when compared with the same period last year.
New client wins for Cobbetts during the period included leading UK telecommunications firm Maintel Holdings, US biotechnology giant Techne Corporation, and a number of high growth AIM-quoted mining and minerals companies.
The news comes weeks after reports from the legal sector linked Cobbetts with rival firm DWF.
Mr Boyd said: “Our performance in the first half of the year is testament to the hard work and focus of everyone within the firm. The funding package from Lloyds serves only to strengthen our financial position.
“Despite the continued challenges in the UK and global economies, we continue to win quality domestic and international work through our emphasis on innovative, client-led services and knowledge-based differentiation. We move into the second half with a healthy order book, and look forward to continuing this level of growth and recording a strong full year performance.”
During the period, Cobbetts also secured a new £11.5 million funding package with Lloyds Bank Corporate Markets.
