Hogan Lovells has posted a 5.3% rise in operating profit for 2012-13 for its non-US business, despite a drop in revenue over the year.

According to limited liability partnership (LLP) accounts filed with Companies House, the firm brought in £581.4m in fee income, away from the US, down on £590.6m in 2011-12. However, its operating profit grew from £195.3m to £205.7m in the same period on the back of a £20m reduction in operating expenses.

The firm said the drop in expenses was a reflection of one-off costs in the previous financial year, associated with its "surplus office space".

A spokesperson for the firm said: "This result reflects the benefits of our global practice and breadth of capabilities, along with maintaining a solid grip on expenses."

The firm played down the significance of the results, which did not take account of its sizable US practice. The spokesperson added: "It is important to bear in mind that these accounts are now quite historic, referring to a period which ended nearly nine months ago."

The firm added that the results "do not reflect the improvement in market conditions … since 30 April 2013."

Hogan Lovells will release financial figures covering the 2013 calendar year for the global firm, including the US, next month.

Meanwhile, the non-US LLPs show that number of fee earners grew from 1,504 to 1,527, while equity partner headcount remained static at 215.

Unlike a number of its peers, Hogan Lovells has no net debt, with the financial results showing that its net cash dipped slightly at April 2013 to £61m, down from £62m 12 months previously.