Greenberg Traurig Maher's (GTM) burgeoning London office has posted turnover of £8.7m for its first full year in the City, according to the firm's new LLP accounts.

The revenue figure, which covers the period between 31 March 2010 and 31 March 2011, is significantly up on the £3.5m the firm took in during its first eight months in London after launching in 2009 with the hire of ex-Mayer Brown heavyweight Paul Maher (pictured).

The first full-year performance comes after a period of rapid growth for the City base. GTM has been one of the most active US law firms in London in terms of lateral partner hiring since the office's launch, recruiting 15 partners during the 2009 calendar year and a further 12 in 2010.

The office ended the last financial year with losses of £3.3m due to incurring a total of £7.1m in set-up expenses. Expenses incurred during the full 2010-11 financial year stood at £9.4m, meaning the base made a loss of just £714,000 for its first full year.

The amount owed to GTM's US parent firm stood at £3.5m this year, a figure which has has more than doubled since the previous LLP accounts were filed, when the London arm owed its parent £1.4m. The figure owed to Greenberg Traurig includes £1.9m in administrative and support services costs. In 2010, the equivalent cost to the London arm was £507,000.

The news comes six months after the firm decided to pull away from further expansion and to invest primarily in transactional corporate work with a focus on the energy sector.

The firm has also seen several partner departures in recent weeks, with Birmingham-based energy & infrastructure partners Francis Patalong and Paul Kirkby leaving in December and partner-turned-consultant Neil Upton leaving to join SJ Berwin earlier this month.