Withers has seen revenue grow 21 per cent over 2015/16 alongside a 16 per cent drop in average profit per equity partner (PEP).
Turnover at the firm soared from £134m to £161.5m after the firm expanded its international network through formal alliances with Singapore firm KhattarWong and new offices in California.
However, the firm’s average profit per equity partner (PEP) declined throughout the year, dropping 16 per cent from £367,000 to £305,000.
The firm’s London office contributed towards £67m of revenue over 2015/16, equivalent to 41 per cent of total turnover generated.
A key component of the firm’s strategy is for Europe, US and Asia to account for a third of revenue each, with last year’s London office making up a larger proportion of turnover at 47 per cent.
In 2014/15, Withers’ revenue rose 8.7 per cent, while its PEP also dropped by 2.4 per cent.
At the time, managing director Margaret Robertson said the lower PEP “reflects the increase in our partnership, which grew by more than a third in the last seven weeks of our financial year”.
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