Withers has announced its annual financial results, posting a 9% increase in turnover to take it over the £100m mark.

The firm, which operates to a 30 June financial year, saw revenue rise to £100.8m in 2010-11 up from £92.7m in 2009-10, while profits per equity partner (PEP) fell 10% to £322,760, down from £357,300 the previous year.

Broken down by practice, the firm's litigation arm saw turnover reach £22.8m for the 2010-11 financial year up from £20.6m in 2009-10, while corporate brought in £14.4m. Property saw revenues increase to £6.9m up from £5.8m last year.

Wither's remaining practices, including wealth planning and family, collectively posted revenues of £56.7m for 2010-11.

Withers managing director Margaret Robertson said: "We are pleased to see the strong growth in revenue this year – this is testimony to the hard work of our people and our successes in attracting and retaining clients.

"The slight dip in profits reflects our large-scale investment in international expansion, with a new office in Zurich and an expanded presence in New York and Milan. We look forward to seeing our commitment to strengthening our international service translate into more work and higher profits next year."

Withers' City arm brought in the bulk of the firm's turnover at £59.3m, followed by its US operation, which includes offices in New York, New Haven and Greenwich, with revenues of $53.3m (£33.1m).

Withers launched an office in Zurich in April this year, marking its second base in Switzerland alongside an office in Geneva. The firm also has offices in Milan, Hong Kong and the British Virgin Islands in addition to the US.