LG's highest-paid member received £695,000 in 2009-10 – a 46% increase on the previous year's top figure, according to the firm's latest limited liability partnership (LLP) accounts.

The Companies House filings reveal that firm's best-paid member took home £220,000 more than the previous year, as profits per equity partner rose 64% to £460,000 alongside an 8% turnover increase.

During the year LG reduced its net debt carried forward by 63% to £5.1m, compared to £14m the previous year, while cash at bank and in hand more than tripled to £4.5m, up from £1.3m. The firm's operating profit rose by 32% to £24.6m.

Other information contained within the filings shows that staff headcount dropped by 8% to 351, with the average number of members down 7% to 75.

Approximately 37% of LG's total revenue was generated through international work. The firm has stated that it is committed to growing its presence in India, the US, Germany and Singapore.

During the financial year the firm launched a joint venture with a Dubai-based consultant to form the Family Business Advisory Group which focuses primarily on governance, succession planning and mediation for families in business.

LG managing partner Hugh Maule (pictured) said: "It was an excellent year and we did well on the working capital management side as people put in a superb effort on billings and collections. We managed costs of the business well, together with improved turnover and lower operating costs, and it has resulted in an improved operating profit and increased cash flow."

He added: "Dispute resolution, finance and restructuring and insolvency had a bumper year and this remains the case this financial year, so we are pleased as we continue through 2011."