Nabarro has posted a marginal increase in turnover for the 2011-12 financial year, as the firm embarks on a partner performance exercise which could result in a number of senior departures.

The top 30 firm has confirmed preliminary unaudited fee income of £113.4m for the twelve-month period, marking a slight increase of 1% on the previous year's results, which stood at £112.6m.

The firm's profits per equity partner (PEP) have not yet been calculated, but partners indicate that they will be either static or slightly up on last year's figure of £318,000.

The firm's profitability has been falling in recent years, including a 15% drop in 2009-10 as a result of the downturn, while last year saw PEP drop 1% further from £320,000 to £318,000. According to one partner, the partner performance exercise is an attempt to reverse this trend.

Senior partner Simon Johnston (pictured) said: "After stabilising turnover last year, we look set to post a marginal increase for 2011-12. Ongoing economic uncertainty and the tough market for transactional work in the UK are challenging, but we have an established platform for growth."

He added: "Our strategic decision to open an office in Singapore, for example, is already paying off and we will be looking to invest further there in the near future."