Pinsent Masons saw turnover rise by 4% in the last financial year before its merger with Scots firm McGrigors went live on 1 May.

The firm saw revenue climb to £221m in 2011-12 up from £213m in 2010-11, when revenues grew by 3%. Asia saw the biggest increase in fee income, with Pinsents' offices in Hong Kong, Singapore, Beijing and Shanghai reporting a 30% jump in turnover, while Middle East revenue grew by 15%.

Profit per equity partner (PEP) is yet to be confirmed but the firm expects the figure to be similar or higher than in 2010-11, when PEP stood at £400,000.

Taking into account revenues from McGrigors, turnover for the combined firm would stand at £295m for the 12 month period ending 30 April. McGrigors, which operates to a September year end posted revenues of £42.5m in the final seven months of operation, putting it on course to increase revenues from the 2010-11 figure of £70m.

Pinsents managing partner David Ryan said: "Our results show that we are continuing to perform strongly in a difficult market. The continued investment in our staff and infrastructure has increased our ability to respond to changing client demand.

"The merger with McGrigors built on this, and as a combined firm we are in a strong position for growth in the coming years."

News of Pinsents' financial results comes after the firm announced last month that it is set to cut around 40 back office jobs across the firm in light of its recent merger with McGrigors.

The redundancies are expected to be made in the firm's HR, IT, facilities and business development functions, with no fee-earner roles affected by the cuts.