Net profits at international firm DLA Piper returned to growth last year, despite turnover falling by nearly 3%, the firm reported today.
Global results for the year ending 31 December 2016 show net profits of $643m (£525m), 6.3% up from $605m in 2015, when they fell 9.2% from the previous year.
Revenue in calendar 2016 fell by 2.9%, from $2.5bn to $2.4bn.
The firm did not report pre-tax profits. Profit per equity partner was up by 5.6%, from $1.56m to $1.65m.
The firm said the ‘slight drop’ in global revenue was a result of exchange rate losses due to its large international presence. ‘In our base currencies, again the firm performed well,' a statement said, adding that looking at the results in sterling showed a growth of 3% in gross revenue and 8% in revenue per lawyer.