International firm Debevoise & Plimpton has posted a slight decline in profits in its London office after what it described as a ‘significant year for growth’ in 2015.
The London branch of the firm had overall revenue of £85m for the calendar year 2016, down from £88m in 2015.
Profits per equity partner also fell by £171,000 to £1.93m.
Firm-wide, the firm posted revenue of $735m (£588m) in 2016. That is down £16.8m on 2015’s figure.
However, 2015 saw the New York-headquartered firm increase its revenue by £34m when compared with 2014’s figures.
Michael Blair, presiding partner, said: ‘2015 was a year of significant growth for the firm in London. Following that up with a steady 2016 was important to consolidate that growth, which is exactly what we have done.’
He added: ‘The year obviously saw a number of significant events which shifted the business landscape considerably, and making sure we continued to work with our clients to react and adapt to those events was a key focus for the year. Those efforts have meant we can look to the future with confidence. Indeed, 2017 has started very strongly for us.’