The debate ignited by Dentons over its decision to stop publically reporting profit per equity partner (PEP) and profit figures has taken a further twist, after figures seen by Legal Week show PEP in the firm's UKMEA region increased by almost a quarter in 2013-14.

Financial results circulated internally to members of the firm's UK, Middle East and Africa limited liability partnership (LLP) show PEP grew to £407,000 last year, 2% ahead of budget, and 23% up on 2012-13.

Elsewhere, revenue stood at £146m, a 3% increase against like-for-like figures for 2012-13, while net profit reached £28.7m, internally reported as being 16% up on last year's figures.

According to its internal benchmark, revenue was 1% ahead of budget, while profit was on budget, capping off a strong year of performance for the LLP, under the leadership of UKMEA chief executive Matthew Jones (pictured).

Dentons declined to comment on the 2013-14 figures.

The rises in revenue and profit are slightly higher than those calculated against a 2012-13 LLP filing with Companies' House, though this is understood to be due to accounting changes in a like-for-like comparison of the UKMEA LLP between the two years.

The disclosure follows a decision by senior firm management, first reported by Legal Week this month, to stop publically reporting average PEP figures for the firm, as well as each of Dentons' verein-structured LLPs.

Chief executive Elliott Portnoy and chairman Joe Andrew wrote a letter to the American Lawyer, citing the metric as "meaningless" for a global firm, and claiming it could be potentially damaging to client relations.

The lawyers argued that average global PEP figures say "nothing about the success of a firm"; that partners often object to voluntary public disclosure; that the reporting can lead to client dissatisfaction; and finally they argue that "a focus on profit undermines the differences between the practice of law being a profession rather than solely a business".

Dentons opened the way for its rivals to join it in shunning one of the traditional metrics by which law firm performance is judged. In issuing the statement, Portnoy and Andrew added: "We invite other firms to join us."

According to the American Lawyer, average PEP across the firm stood at $625,000 (£369,000) in 2013. Earlier this year, before it took the decision to halt reporting, Dentons said its US LLP had grown its revenue to $473m (£286m), with US PEP up by 4.8% to $958,000 (£570,000).

Last year, self-reported figures calculated by combining the respective financial performances of each part of the Swiss verein-structured firm, showed a PEP figure of £452,000 and net earnings of £225.2m.

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