International firm Hogan Lovells has posted its ‘best ever’ annual results, with profit per equity partner up 10% in 2013 to $1.208m (£718,564), compared with 2012.
Turnover increased 5.2% to $1.718bn (£1.03bn) in 2013, with revenue per lawyer up 3.7% to $742,613 (£444,661).
Europe represented 47% of the firm’s billings, followed by 66% from the Americas and 7% from Asia and the Middle East.
The firm said it has a number of ongoing initiatives to remain successful in a competitive market.
‘Our regulatory capabilities stand out in particular as a distinctive strength,’ it said in a statement.
Hogan Lovells became one of the largest firms in the world following the merger between US firm Hogan & Hartson and City firm Lovells in 2010. The deal created a combined revenue of more than £1bn, with 2,500 lawyers in more than 40 offices.
According to Thomson Reuters Legal Advisers’ annual M&A review in January, Hogan Lovells outperformed all other UK firms in the value of mergers and acquisitions (M&A) it advised upon in 2013, ranking ninth in the world.
In recent months the firm has opened an office in Luxembourg, combined with Routledge Modise in South Africa and opened its second office in Brazil.