Profit per equity partner (PEP) at legacy Speechly Bircham rose 16% in its last financial year before merging with Charles Russell, the firm's final set of partnership accounts show.

Full equity partners at Speechlys took home an average of £313,000 in 2013-14, an extra £44,000 on the previous financial year.

Average partner count dropped from 82 to 72, however, resulting in a 32% decrease in total capital contributions paid in by partners.

Net profit at the legacy firm dipped slightly from £18.4m to £17.5m, as did revenue, which fell from £57m to £56.6m.

The firm more than halved its net debt position over the last two financial years, the accounts also reveal. Net debt stood at £3.7m at the end of April 2014, compared to £8.9m at the end of the 2011-12 financial year.

The firm merged with Charles Russell on 1 November 2014, creating a £135m London-headquartered firm.

The accounts also contained a review of the year by legacy Speechlys managing partner James Carter (pictured left, with Charles Russell senior partner Christopher Page).

Carter wrote that "confidence in the underlying business was reflected in the decision to open new offices in Geneva and Paris" in September and November 2013 respectively, helping to double the number of Speechlys lawyers based overseas.

The legacy firm still has around £1.3m in land and building lease commitments due by 2020, with another £4m due over the longer term.

Separately, Hill Dickinson's 2013-14 accounts were also filed with Companies House this week, showing turnover largely unchanged at £112.2m, and a 3% profit dip to £26.2m.

The firm strengthened its balance sheet though by chopping net debt from £16.9m to £8.6m in the course of the year, as part of a reorganisation of the business.