Field Fisher Waterhouse has posted single digit increases in revenue and profits per equity partner (PEP) for the 2010-11 financial year.

The top 50 law firm has announced turnover of £94m for the last financial year, 2% up on the previous year's figure of £92m.

PEP meanwhile increased by 7% on 2009-10, rising from £476,000 to £510,000. The increases almost reverse last year's 3.1% dip in revenues and 7.6% drop in turnover, although PEP is still £240,000 short of the firm's 2007-08 all-time PEP high of £750,000.

Field Fisher, which recently opened two new offices in Munich and Dusseldorf, said revenue from its European offices reached 15% of total turnover for the first time, bringing in around £14m.

The firm made 13 lateral hires during the last financial year including energy partner Carlos Pierce from Squire Sanders Hammonds, corporate partner Amerjit Kalirai from Berwin Leighton Paisner and IP partner Mark Hodgson from Howrey. The firm also promoted nine associates to its partnership earlier this year, including its first promotions outside of the UK.

Managing partner Moira Gilmour said: "We have continued to invest in Europe, opening new offices in Germany, and have grown the partnership, bringing in new lateral hires and promoting a large number of associates, for the first time including promotions outside London."

She added: "This continued European expansion and our strategic focus on our corporate, IP & technology and regulatory practices means the firm has a sound platform for future growth."