Kennedys has posted a double-digit increase in revenues for the third consecutive year since entering the UK top 50 for the first time in 2009.

The firm's 2010-11 performance saw turnover rise 10.3% to £97.4m, with the majority generated by the firm's UK offices, which contributed a total of £76.9m, up from £70.8m in 2009-10.

Kennedys broke into the UK top 50 rankings for the first time two years ago after a 31% revenue hike during 2008-09, before turnover grew by the same percentage the following year to reach £88.3m.

The firm has added four new offices to its international network during the past year, including bases in Miami and Sheffield and mergers with longstanding alliance firms in Portugal and Dublin. The firm also announced a new association in Brazil this month.

Profits per equity partner (PEP) for 2010-11 are yet to be announced, with all results still being audited. Last year the firm posted PEP of £380,000.

Chief executive Guy Stobart (pictured) said: "2010-11 has been a year of considerable investment by Kennedys in people, offices and infrastructure – particularly in IT. We have performed satisfactorily against that backdrop and expect that once this has bedded down we will see the fruits of that coming through to our bottom line."

The firm has grown its firmwide legal staff count by 20% this year, including a 9% increase in UK partners. The total number of partners at the firm now stands at 157 globally, up from 131 last year.

Kennedys has also invested in bigger offices for its Singapore and Dubai bases this year and installed new multimillion-pound IT systems.

The results come amid strong financial growth from the firm's peers, with Clyde & Co announcing a 10% increase in turnover to £212m, 
while Barlow Lyde & Gilbert posted a 17% revenue hike to reach £94.5m.