Profit per equity partner rose to £537,000 at international firm Stephenson Harwood in 2013/14, a 19% increase on the previous year.
In its provisional results, the firm reported a revenue rise of 8% to £121m.
Stephenson Harwood attributed growth to ’strong transactional practices’ including corporate, finance and real estate, but added that the market remains ‘very competitive’.
Sharon White, chief executive, said the firm will concentrate on lateral hires to increase revenue in 2014/15, rather than seek acquisitions.
She added: ‘We will continue to grow internationally and will be adding to our existing offices. We have just applied for a licence for a new office in Korea.’
In 2012/13, revenue increased 3.5% to £113.3m, according to the firm’s Companies House filings. Profits edged up to £37.5m from £37.1m.
The profit share for the highest paid member in 2013 was £895,000 – down from £910,000 the previous year.