US firms Sidley Austin, Nixon Peabody, Dechert and King & Spalding have all posted positive results for 2007.
Top 10 firm Sidley Austin announced an 11% increase in revenues to reach $1.39bn (£709m) compared to $1.25bn (£638m) in 2006, while profits per equity partner (PEP) grew by 5.7% from $1.31m (£667,000) to $1.38m (£704,000).
Dechert saw total fee income rise by around 15% to hit $836m (£429m) in 2007 - marking its third consecutive year of double-digit growth in revenues. PEP increased by 18% over the period, jumping from $1.99m (£1.02m) to $2.35m (£1.2m).
Atlanta-based King & Spalding also reported solid increases of around 5.5% in both turnover and profits, taking turnover to $615m (£315m) and PEP to $1.40m (£714,000). The firm’s London office achieved a more modest 4% rise in fee income to reach $22.7m (£11.6m). The previous year London turnover had more than doubled.
King & Spalding London managing partner John Keffer said: “2006 was a transforming year for the London office, when the level of activity took off. Our hope was that we would be able to replicate that performance in 2007.”
Meanwhile, US national firm Nixon Peabody unveiled a 16% revenue hike to reach $457m (£234m) compared to $393m (£201m) the previous year.
The firm also enjoyed a 13% rise in PEP to around $653,000 (£334,000).
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