Profit per equity partner (PEP) at Macfarlanes has broken the £1m mark for the first time since 2007-8.

2013-14 PEP came in at £1.19m, an impressive 21% on the previous year.

The unaudited results also show revenue growth of 22% in 2013-14, rising from £114.2m to £139.7m, and a 30% increase in net profit, up to £64.6m from £49.2m.

The firm's corporate and private client practice together accounted for 65% of turnover, with finance and dispute practices accounting for 20% and 15% respectively.

Macfarlanes did not disclose the top and bottom of its equity range.

The average global partner count at the firm rose to 76.7 in 2013-14, up from 70.4 the previous year.

Macfarlanes made six lateral partner hires in the UK during the year, including Baker & McKenzie energy and projects partner Scott Brodsky and Ashurst real estate partner Anthony Burnett-Scott.

2014 also saw Macfarlanes' largest partner promotions round since 2005, with nine new partners being made up across seven practice areas.

Macfarlanes did not put this year's results down to one practice area in particular, saying that the results were driven by growth across the board.

Charles Martin (pictured), senior partner at Macfarlanes, told Legal Week: "There is no magic here, this performance is a direct result of a lot of very hard work by talented lawyers from across the firm. We keep a keen eye on the things that make us different – the exceptional quality of our people and delivering outstanding client service in a distinct way."

In January, Macfarlanes took out a lease on a new office next door to its current City headquarters in a move designed to consolidate offices around its main Norwich Street location.