Garrigues has boosted its revenues 15% over the 2007-08 financial year to fall just short of the €300m mark.

The Spanish leader, whose year-end is 31 August, has seen its turnover rise to €296.8m (£234m) during the last year, a 14.8% increase on last year's total of €258.6m (£203.9m).

Commenting on the results, Garrigues managing partner Jose Maria Alonso told Legal Week that the firm's restructuring and labour law departments were boosted by the financial crisis, while the corporate and M&A group performed above expectation.

He said: "Having many regional offices has helped us, as mid-size companies are less affected in the financial crisis. At the same time, we have been involved in the most important transactions in the country, including restructurings."

The news comes as Garrigues announces it is merging with 33-lawyer Canary Islands-based firm Llorens. The tie-up brings another five partners to the firm, including founding partner Juan Manuel Llorens, and adds capacity in leisure and tourism as well as the maritime law sector.

The firm has also announced its internal partner promotions, making up 34 of its lawyers. The promotions, which take its total partner count to 269, see the tax department become the biggest beneficiary with 10 new partners. Meanwhile, corporate and commercial has eight promotions, public law four and intellectual property one. The remaining promotions come in employment and litigation, which get three new partners a piece.

Garrigues' Madrid office saw the largest group of new partners with 12 promotions, while outside Iberia the firm also promoted lawyers in New York, Warsaw and its new Bucharest office, which opened in June this year.

Rival Spanish leaders, including Cuatrecasas and Uria Menendez, follow a different financial year, closing their books on 31 December, and are not expected to reveal numbers for a few months yet.

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