Annual income at global firm Hogan Lovells grew 3.6% in calendar 2014, to $1.8bn (£1.16bn), up from $1.7bn the previous year.
Profit per equity partner rose 0.8% on 2013 to $1,217,290.
London and continental Europe accounted for 47% of billings at the firm created in May 2010 by the merger of Washington-based Hogan & Hartson and London-based Lovells. The Americas generated 46%, and Asia and Middle East 7%. Revenue per lawyer in 2014 was 1.5% higher at $753,974.
Across practice groups, Corporate generated 30% of total billings; Litigation, Arbitration and Employment 30%; Government Regulatory 15%; Finance 15%; and Intellectual Property, Media and Technology 10%.
Hogan Lovells CEO Steve Immelt said: ‘Our market position continues to improve and client surveys show that our brand is viewed very positively and that clients understand our exceptional trans-Atlantic strength, our sector knowledge and our broad practice base.
‘Our regulatory capabilities stand out in particular as a distinctive strength of the firm. We are also making long-term investments that will secure our ongoing success: last year we combined with prominent Mexican firm Barrera, Siqueiros y Torres Landa, giving us expanded capabilities in Mexico City and Monterrey, and adding more muscle to our market-leading Latin America practice.
‘We also opened our Legal Services Centre in Birmingham, which operates as an extension of the London office and we continue to grow our Business Services Centre in Johannesburg. Both allow us to broaden our client offering, and to provide increasingly innovative and cost-effective solutions for the delivery of legal services.’
Immelt added: ‘Clients increasingly use us across more offices and practice areas – on average a typical top-100 client will use us across more than ten countries and ten practice areas demonstrating our global coverage and practice strength.’