BRABNERS CHAFFE STREET endured a £3.5m drop in its fee income during a “challenging” year for the law firm.

The Exchange Flags-based firm brought in £28m in the year to April, 2009, down 11% on the previous year. Accounts just lodged at Companies House showed profits were significantly affected, down £2.9m to £9.8m.

This fall was reflected in the average share for its 62 members, which slumped by more than £64,000 to £158,400. The firm’s highest earner received £305,000, compared with £470,000 a year earlier.

Brabners’ managing partner Mark Brandwood, who took over from Michael Brabner in May, said: “The previous year had been a very good year, but this accounting year covered the worst recession for many years.

“It was an unsurprising result, but I think it shows that overall we maintained a good volume of business in particularly challenging conditions.”

He is expecting the current financial year to show some, albeit slow, growth.

“There are some positive signs even in the areas that were affected last year, like corporate and property,” said Mr Brandwood.

“It won’t change overnight, but the movement is in the right direction.”

Brabners, which has offices in Liverpool, Manchester and Preston, made some cuts to its workforce in autumn, 2008, but say it has now returned to its previous levels, before taking into account its merger last May.

The firm joined with Liverpool-based Bremners and the combined firm has 390 staff, of whom 245 are based in Liverpool.