DLA will this week unveil a 15% rise in fee income, taking the national giant's turnover to £234m.
The results, which were due to be announced at the firm's annual press conference on Wednesday (21 May), after Legal Week went to press, show DLA's income rising from £203m in its previous financial year.

In comparison, partner profits are roughly flat on 2001-02 levels – up from £457,000 to £460,000 – signalling a halt in the firm's recent record of surging partner profits.

The results, which come against a backdrop of falling profits and stagnating turnover at many leading City firms, will further bolster DLA's reputation as one of the most successful national practices.

However, the figures for partner profits are boosted by the 1,400-lawyer giant's high leverage. Only a third of the firm's 338 partners are full equity, with the remaining split between two bands of fixed share partners.

Leeds-based heavyweight Walker Morris looks likely to take the crown as the UK's most profitable national or regional practice, with the firm posting average profits per partner of £495,000 in 2002-03, up by 11% on the last financial year.

DLA partners have billed the 2002-03 year as a period of investment, with the firm claiming it is in line for a major increase in profitability in its current year.

Major expansion the firm undertook during the past 12 months includes securing deals to take on Stephenson Harwood's Spanish branch last year and in January agreeing to take on the bulk of CMS Cameron McKenna's Hong Kong arm.

The firm has also continued to make lateral hires, taking partners from firms including DJ Freeman, Stringer Saul, Addleshaw Booth & Co and Watson Farley & Williams.