Gateley has reported a significant hike in profits for 2012-13, with profit per equity partner (PEP) soaring by 22% and revenue up 7%.

After a disappointing 2011-12 when Gateley saw both revenue and PEP fall, the firm has this year posted firmwide income of £66m, up from £61.5m last year.

Meanwhile, PEP, which last year fell from £240,000 to £214,000, has now  climbed to £262,000.

Overall profits for the 12 months ending 30 April came in at £16.5m, up on the previous year's total of £13.5m, while the firm's equity spread ranges from £140,000 to £550,000, significantly up on last year's range of £104,000 to £400,000.

The firm partly attributed the turnaround to the impact of its new Leeds office which launched at the beginning of 2012 and also the reaction to its new London premises at 1 Paternoster Square into which they moved last October.

Gateley England senior partner Michael Ward (pictured) said: "We were slightly disappointed with our figures the previous year whereby we were unable to complete a number of pieces of work in time for year end. As such, some of the growth in the latest set of results can be partly attributed to formalising things in a particular year.

"Having said that, we've done well to continue to grow through testing times and have also made some key partner hires in the last year. Our Leeds office has just completed its first full year while our London move has also made a positive difference, especially in terms of profile – people have been very impressed and it has certainly got us talking to more people."

Meanwhile, Shoosmiths has announced a 3% rise in turnover alongside a 9% decrease in PEP following a year in which the firm expanded into Scotland through its merger with Edinburgh firm Archibald Campbell & Harley last autumn.

The firm posted a revenue figure of £86.9m, up on last year's total of £84m, while PEP came in at £269,000, down from £294,000.

Average equity partner numbers rose from 40 to 45 during the year, while practice-wise, the firm saw the majority of its turnover come from its disputes and corporate practices, which contributed 30% and 22% of total income respectively.

Elsewhere, Holman Fenwick Willan (HFW) has announced a 14% rise in turnover after seeing income climb from £124m to £141m, while PEP edged up 1% from £525,000 from £530,000.

The average number of equity partner rose by 16% from 62 to 72 over the year. HFW's equity spread now ranges from £314,000 to £628,000, up on last year's range of £302,000 to £605,000.