Eversheds spent £4.8m on restructuring costs during 2012-13 after a strategic review that led to 116 job cuts last year.

The firm's latest limited liability partnership (LLP) accounts, filed with Companies House, show that the firm incurred £4.8m in restructuring costs after concluding its redundancy consultation.

The consultation, which originally put 166 jobs at risk, also led to the closure of the firm's 29-strong Copenhagen office.

In the filing, the firm stated: "Restructuring costs were incurred following a detailed management and operational review in January 2013 to align the operations of the firm to the new strategic three-year plan and address certain parts of the business where current market activity makes existing structures unsustainable."

The accounts also show that the firm incurred £3.7m in costs for leases on vacant or sublet properties.

The group's operating profit, including its share of joint ventures, rose 4% to £117.9m from £113.3m. However profit before finance charges dropped from £113.6m to £109.4m.

The report shows that the firm's UK offices increased their contribution by 2.5% from £327m of total revenue to £335.9m, to account for nearly 90% of the global total.

At the end of the financial year the firm reported worldwide turnover of £376m, up 2.7% on the previous year when it stood at £366m, while profit per equity partner rose from £632,000 to £642,000.

The firm's Asia operations grew the most, posting a 6.8% rise in contribution to £20m, or 5.3% of total turnover. The European outposts brought in £20.4m, which made up the remaining 5.4% of the business. 

The highest paid member of the firm took home £1.22m, 5.1% up on the previous year when they pocketed an equivalent of £1.16m.

The firm's wage and salary costs grew 1.9% from £112.6m to £114.7m, against a decrease in average fee earner headcount from 1,482 to 1,455 and dip in support staff numbers from 986 to 974. The average number of members grew to 305 from 293.