Linklaters' operations in Asia and America both saw double-digit increases in revenue during the 2010-11 financial year, according to the City law firm's latest public accounts.

The accounts, which cover the period from 1 May 2010 to 30 April 2011, show revenues for the regions respectively stood at £135.2m and £88.4m, representing increases of 10% and 12%.

Continental Europe made up £451.1m of Linklaters' £1.2bn turnover – up 3% on the previous year, while UK and Middle East revenues dropped 4% from £542.1m to £522.6m during the period.

Profit for the limited liability partnership (LLP) for the year stood at £372.4m, down slightly from £374.1m in 2009-10.

The accounts also reveal that the highest-paid lawyer at the firm took home £2.2m during the last financial year, compared with the same amount the previous year and £2.5m in 2008-09. Such earnings, which are well above the top of the firm's lockstep, are usually due to one-off payments such as retirement contributions.

This figure comes against the backdrop of a 0.9% increase in average profits per equity partner (PEP) to £1.225m in 2010-11. The firm had 315 members in the LLP at the end of April 2011, up marginally from 312 the previous year.

Meanwhile, staff costs increased by 3% between 2009-10 and 2010-11, standing at £556.8m up.

The accounts also reveal that firm's pension scheme deficit stood at £1.5m compared with £1.9m in 2009-10. The deficit in the firm's other post-retirement benefit scheme increased to £2.2m from £1.9m.

The news comes two years after Linklaters announced the closure of its final salary pension scheme, which saw it transfer 50 members of staff to a contribution-based pension scheme on 1 December 2009.

The accounts also include details about the nature of Linklaters' partnership, which has been moving towards an all-equity model in recent years. It states that most partners receive 10 profit-sharing units when they join the equity, increasing by 1.5 units a year for 10 years.

The firm aims to ensure that capital levels do not drop below £40m and is required to secure a majority vote from members if they are called on to contribute more than £20,000 per profit share.