Exchange Chambers ahead of budget with record turnover of £25.72 million
May 1, 2014
Exchange Chambers has recorded record turnover of £25.72 million for the 2013/2014 financial year – up 10% on last year’s £23.4 million.
The progressive set, based in Manchester, Liverpool and Leeds, will also be keeping members’ contributions at the same level for the fourteenth successive year.
“We are delighted with Chambers’ financial performance – all our departments have performed strongly,” said Director of Chambers, Tom Handley.
“We expected, and budgeted for, a drop in turnover this year as a result of the cuts to publicly funded work.
“To increase revenue, and exceed budget, at a time when the Government seems intent on destroying the criminal Bar with its fee cuts, is our best performance yet. It is a great testimony to all our barristers.”
“The quality of our barristers and the multi-disciplinary nature of Chambers are our greatest strengths,” added Tom. “Having a major presence in three cities is also delivering economies of scale and enabling us to keep members’ contributions at such a competitive level.”
Said Bill Braithwaite QC, Head of Exchange Chambers:
“At a time when cuts to publicly funded work are taking hold, Chambers has performed exceptionally well.
“By keeping members’ contributions at such a competitive level we are also continuing to attract outstanding barristers – and that’s our strategy moving forward.”
In addition to strong financial performance it has been a busy and productive twelve months for Exchange Chambers. The Set has welcomed a number of new members, launched and strengthened key departments and acted on a wide range of high profile cases. In Manchester, Exchange Chambers has also moved to new flagship offices at 201 Deansgate.