Results released by Withers show that revenue has climbed from £134m to £161.5m over the last year. The firm’s London office contributed £67m to the revenue result, equivalent to just over 41 per cent of global turnover for the year. Withers’ mission to spread revenue evenly across its Europe, US and Asia arms also appears to be gaining some ground, with London's contribution to the global total down from 47 per cent in 2014/15.

PEP slips again

Despite the impressive revenue performance, PEP slipped 16 per cent at the firm from £367,000 to £305,000, having fallen 2.4 per cent the year before from £376,000. At that time, managing partner Margaret Robertson attributed the drop to the increase in the firm’s partnership, ‘which grew by more than a third in the last seven weeks of our financial year.’

Global expansion

The firm has continued to expand rapidly and over the last few years has launched tax practices in Tokyo and Dubai, three new offices in California and established alliances in Singapore and Australia. It also recently promoted seven new partners across six jurisdictions, bringing the total number to 165 worldwide.

Sources: The Lawyer; Legal Business