Profits at litigation firm Stewarts Law remained steady in 2013/14 as it consolidated recent rapid growth.

Profit per equity partner (PEP) was static at £1.1m on flat overall profits of £20.4m in the 12 months to 30 April. Revenue rose 2.6% to £46.6m.

Last year profits jumped 30% to £20.5m, compared with the same period in 2011/12, on revenue up 27% to £45.2m. PEP rose 37.5%.

Managing partner John Cahill said the firm grew at a compound annual growth rate of 30% over the five years to 2012/13.

He said: ‘In many ways 2013/2014 was a transitional year for Stewarts Law with focus given to consolidating the extraordinary growth achieved over the last six years and investing in new contingent fee business.

‘The firm has done well in these circumstances to continue its pattern of growth, maintain profitability at a high level and create a balance sheet free of external debt by the year end. An excellent year with much to look forward to in 2014/2015.’