London offices report strong financials as top US firms see global revenues rise during 2012 financial year

A host of elite US law firms have posted their 2012 financials this week, with the vast majority posting broadly positive results despite a choppy global deal market.

Reed Smith, Sidley Austin, Paul Hastings, Gibson Dunn & Crutcher, Proskauer Rose and Shearman & Sterling all saw earnings grow last year, with Mayer Brown one of the few firms to post a drop in both revenue and profits per equity partner (PEP).