LG has posted a 64% increase in profits per equity partner (PEP) in a dramatic financial turnaround for the UK top 50 firm.

Profits at the firm rose sharply from last year's figure of £281,000 to a new high of £460,000, after falling by 35% in 2008-09.

The firm's PEP figure is now higher than it was during the boom year of 2007-08 when it stood at £430,000.

The PEP increase comes alongside a 7.6% hike in revenues, with fee income growing to £64.9m from the £60.3m the firm took in during 2008-09.

LG pointed to dispute resolution, finance, corporate recovery and restructuring as particularly strong-performing areas of the business, while international revenues doubled following the opening of offices in Moscow and Dubai.

Managing partner Hugh Maule (pictured) said: "I am delighted to see us emerge from last year's aberrant position with such a robust financial performance. We are now firmly back on the path we carved out several years ago and will continue to invest heavily in those areas central to the growth of our business."

He added: "Great performances across our key practices and continued support from our clients combined with a sensible approach to cost management contributed to this outcome."

"Our international growth continues to remain a strategic focus, and this approach has resulted in our international revenues growing 50% on the prior year."

The announcement come after a number of national firm's posted their financial results this week, with Weightmans and HBJ Gateley Wareing both seeing increases in revenues for the year, with the former announcing an 8.1% rise in turnover to £56.2m while the latter saw fee income increase by 5.3% to £49.6m.