Eversheds office two-Article-201610100500

Eversheds' top management team received £7.67m in salaries and profits last year, up 10% from the previous year's total of £6.97m, the firm's limited liability partnership accounts show.

The accounts, for the year to 30 April 2016, contain details of the compensation for the firm's key management personnel – chief executive Bryan Hughes, managing partner Lee Ranson and the executive committee – as well as the firm's highest paid partner, who is estimated to have received £1.429m for 2015-16, slightly down on last year's equivalent figure of £1.46m.

The average remuneration per partner also fell, to £386,000, down from £410,000 in 2014-15. In the same period, the number of partners at the firm grew to 323 – up from 296 the preceding year.

Staff costs rose significantly, up 16% to £174m from £150.2m, as the total number of staff increased 12% to 2,963 from 2,647. The number of legal advisers increased to 1,543 from 1,410 and administrative and support staff numbers rose to 1,097 from 941.

During the course of the year, the firm transferred the business of Heisse Kursawe Eversheds, its German affiliate, to a new partnership, Eversheds Deutschland LLP, which is consolidated within the group. The addition of the German offices also helped boost revenue to £405.3m, up from £379.4m in 2014-15.

The UK accounted for £340.1m of this revenue (84%), up 1% from £336.5m in 2014-15. Revenues generated across the rest of Europe more than doubled from £16.9m to £36.8m, with contributions from the firm's operations in the rest of the world up almost 10% from £25.4m to £27.8m.

Profit for the financial year available for division among members increased to £124.4m, up from £121.9m.

The firm has £80.5m due to creditors within one year, up from £70.4m the previous year. Bank loans and overdrafts accounted for £8.3m of that figure. The accounts state that the group has bank facilities totalling £60m in place, with £34m of those facilities due for renewal within a year.

Earlier this month, the firm sealed a non-financially integrated merger with US firm Sutherland Asbill & Brennan, with the two firms rebranding as Eversheds Sutherland.