Holman Fenwick Willan has become the first UK top 50 firm to announce its financial results, with the firm posting revenues of £112.5m for the financial year ending 31 March.

The 2010-11 turnover figure equates to a 12.6% increase in revenues compared with the £99.9m figure reported last year. However last year's figure covered an 11-month period from May to the end of March, as the firm had opted to bring its financial year-end forward by one month. A like-for-like comparison for the equivalent 12-month period puts revenues 6% up on a projected turnover figure of £106m for last year.

The top 30 firm said 45% of its 2010-11 revenues came from offices outside the City, with the percentage increasing in line with the firm's international expansion. In addition to opening an office in Geneva over the last year, Holman Fenwick has also made a number of lateral partner hires internationally and is set to open in Perth imminently.

Senior partner, Richard Crump, said: "We continue to see opportunities for international growth and recent developments in our business reflect entirely our strategy of investing in core sectors of focus on an international basis. Our offices outside of London are contributing an increasing proportion of our global revenue and we see that trend continuing."

The firm is yet to announce its profits-per-equity partner (PEP). Last year the firm posted a 2.5% increase in PEP to £527,000 from £514,000 in 2008-09.

News of the firm's financial performance comes after Holman Fenwick last month announced a nine- strong partner promotions round, up from five the previous year. The firm's raft of lateral hires include the recruitment of an eight-partner aviation team acquired from Barlow Lyde & Gilbert in March