Stephenson Harwood has posted mixed financial results, growing revenue by 8% while average profits per equity partner (PEP) fell by the same percentage point.

The results for the 2009-10 financial year saw the firm break the £90m revenue barrier for the first time at £91.9m, compared to £85.1m the previous year.

Meanwhile, PEP fell from £610,000 to £561,000, although the firm increased its overall partner number by 13% during the time period and also continued to grow its equity partnership.

Chief executive Sharon White said: "We are a well-balanced, internationally spread business and that has helped us turn in another strong performance. Despite the ongoing recession, we have invested in the firm – we've made a significant number of partner and associate hires and we have taken larger office space in 1 Finsbury Circus to accommodate our current business needs and our anticipated future growth. Through this investment, we aim to make the most of existing opportunities and to capitalise on our strengths."

The firm's London office achieved revenue growth of 5%, which it said was driven especially by its contentious practice. However; the firm's Chinese practice – which changed its name from Stephenson Harwood & Lo to just Stephenson Harwood last year – saw the biggest increase in revenue, with growth of 17%.

Commercial litigation was the top-performing practice overall, growing revenues by 29% during the year, while expanding lawyer headcount by 28%. Highlight instructions include the Fiona Trust litigation in the UK and the litigation surrounding the Nina Wang estate in Hong Kong.

The firm also saw growth in its corporate practice, at a modest 2%, while finance decreased by 5%. Real estate was also down while employment and pensions grew slightly with a 3% revenue increase.