Lovells' Continental Europe practice outperformed the firm's London base for the first time last year, the firm's limited liability partnership accounts have revealed.

The firm's annual report, published today (26 January) shows that Lovells' continental Europe offices accounted for 43% of the firm's total billings of £227.5m during 2008-09, ahead of London, which contributed £225m.

The firm's Asia and Middle East operations increased billings by 10% to £53m, while the US practice contributed £25.5m.

The UK top 10 firm was one of the few success stories in the City last year, posting an 8% revenue rise to £536m. The increase was largely driven by the euro's rise over the financial year, helping to lift the firm's sterling denominated-revenues by more than £15.5m.

The firm's average number of fee earners increased by 67 to 1,591 over the year, while total support staff dropped by 47 to 1,550.

Last year Lovells renegotiated its £60m overdraft facility, and increased its use of the facility to £13.9m from £2.9m the previous year.

Managing partner David Harris (pictured) commented: "Our priority during the turbulence arising from the credit crunch was to focus on our clients, staying close to them and helping address the effects of the downturn on their businesses. Strong performance management was also an important feature of the year, with an emphasis on improved financial housekeeping and cost management and delivering value to our clients."

The 2009-10 financial year represents the last for Lovells as a standalone business, with its merger with Hogan & Hartson set to go live on 1 May. Although the firm will consist of two separate LLPs, it is expected to report at calendar year-end from next year.