Holman Fenwick Willan has revealed double-digit profit growth for 2012-13, with operating profit increasing by nearly a quarter.

Limited liability partnership (LLP) accounts filed with Companies House show that the firm brought in operating profit of £53.3m, up 23% on the £43.3m it posted in the previous year. Profit available for division among members grew by 18% from £39.7m to £47m.

Average member headcount at the firm stood at 141, increasing from 128 in 2012. The firm's operating profit increased from £43.3m to £53.3m, while it brought in £47m in profit available for division among members.

Salaries paid out to employees increased to £46.6m, rising 6.4% on the previous year's equivalent of £47.8m, contributing to overall staff costs increasing from £49.3 to £53.4m.

Average staff headcount however dropped marginally from 780 to 771. Fee earner headcount increased slightly from 436 to 445, while other employee numbers dropped from 344 to 326.

The firm posted average profit per LLP member of £348,000, a 9.8% increase from £317,000 last year. The figure takes salaried partners into account as well as equity partners.

At the 2012-13 year-end Holman Fenwick announced a 14% rise in turnover after seeing income climb from £124m to £141m, while profit per equity partner edged up 1% from £525,000 from £530,000.

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