Exchange Chambers

Record Turnover for Exchange Chambers

Exchange Chambers has announced record turnover of £21.7 million for the 2009 / 2010 financial year - exceeding budget by £3.7 million.

Speaking at the set’s AGM, Tom Handley, Director of Chambers at Exchange Chambers said:

"This is a very encouraging performance from Chambers, with all our practice areas and departments performing strongly.

“In such a challenging financial climate - particularly for publicly funded work - our criminal, civil and commercial departments all exceeded budget, with income from criminal work up by 27% on the year before.”

Said Bill Braithwaite QC, Joint Head of Chambers with David Turner QC:

“It really has been a great year and despite various pressures on the Bar, our turnover has increased and our profitability is the highest it has ever been.”

Exchange Chambers has also announced that it will be keeping members’ contributions at the same level, around 12%, for the ninth year in succession.

“This is a very important measure as it demonstrates sound financial management,” said Tom.

“We are committed to the ongoing expansion of Chambers, through continuing to attract outstanding barristers and delivering an outstanding service.”

Exchange Chambers’ turnover has steadily and consistently increased in recent years.  In 2005 / 2006 turnover was £14 million, in 2006 / 2007 it was £16 million, in 2007 / 2008 it was £17.9 million and last year it reached £18.8 million.

Continued Tom:

“With the unsettled economy and the downward fee pressure on publicly funded work, we actually budgeted for a slight drop in turnover this year. To have improved both our top and bottom line is a very positive indicator for clients, members and prospective tenants.”