Macfarlanes has posted a 12% growth in revenue and 10% growth in profits per equity partner (PEP) for 2012-13.

Revenue at the firm climbed from £102.2m to £114.2m, while PEP is now close to the £1m mark, rising from £903,000 to £989,000.

Corporate was the strongest performing practice, contributing £41m, followed by finance on £24m and disputes with £20m.

The figures follow the firm's successful performance in 2011-12, when revenue grew 8% and PEP was up 20%.

The firm's average number of equity partners rose slightly from 47 to 50 during the year, while the overall partnership remained static at 70.

Senior partner Charles Martin commented: "These results continue the upward trend of the last three years. There is no magic behind this; it is the direct result of hard work by talented lawyers who continue to adapt to market opportunities and keep our demanding, loyal clients happy.

"We will keep our business as simple as possible. That helps us to make sure that we are focussed first and foremost on our clients."

The firm recently added Shearman & Sterling real estate specialist Clare Breeze to the partnership in London following four years as partner at the US firm's City base.

The news of Macfarlanes' results follow shortly after Allen & Overy became the first magic circle to announce its 2012-13 financial results, posting a 0.6% rise in revenue to £1.19bn, up on £1.183bn in 2011-12, while PEP was flat at £1.1m.