Both Stephenson Harwood and Nabarro have reported huge jumps in their profit per equity partner (PEP) for the last financial year.

Stephenson Harwood's PEP rose by 42% in 2014-15 to £763,000, up from £537,000.

The firm also posted a 20% increase in revenue to £145m, up from £121m.

However, the firm said these figures were boosted by fees from several cases where a substantial proportion of work was done in previous financial years.

When these cases were excluded from the figures Stephenson Harwood reported a 16% rise in revenue to £140m and a 24% increase in PEP to £666,000.

Chief executive Sharon White said: "We've grown revenue considerably in London, Greater China and Dubai, in only its second full financial year. Our first set of results for our Seoul office is also encouraging."

Over the year the firm has continued to build up in Asia with the hire of Clyde & Co's Beijing chief representative Lynia Lau to lead its energy and resources practice in Asia from the Chinese capital.

Stephenson Harwood's rise in revenue in 2014-15 puts the firm ahead of Osborne Clarke, which reported turnover of £140m, up from £121m in 2013-14 – the same level as Stephenson Harwood that year. But it is still behind Dentons' UK, Middle East and Africa arm, which reported revenue of £155m in 2014-15.

In 2013-14 Stephenson Harwood posted a 19% jump in PEP, along with revenue growth of 8%. It reported revenue of £121m, up from £112.3m the previous year, and PEP of £537,000, up from £450,000.

Nabarro also reported its results for the last financial year today.

Its profit per equity partner (PEP) jumped by 21% to £576,000 in 2014-15, up from £475,000 the previous year.

Meanwhile, the firm's revenue grew by 8% to £126m, up from £116.7m last year, the largest year-on-year increase since 2008.

Graham Stedman, senior partner at Nabarro, said: "Our move to 125 London Wall and the opening of offices in Manchester and Dubai, combined with a resurgent real estate market and a strong performance from our business advisory and disputes practice divisions, have contributed to our success."

He added that the firm had rewarded associates with more than £1m in bonuses for the 2014-15 financial year.

To sustain its financial growth, Nabarro has also launched a three-year strategy. As part of the strategy, it has committed to raise the volume of work it wins from international clients to a third of its revenue by 2018.

The firm has been investing in its Dubai and Manchester bases, after launching in both locations last year. It also moved its headquarters from Theobald's Road in Holborn to 125 London Wall in November 2014.

In January Nabarro recruited four partners across its offices in Dubai, London and Manchester, including hires from Eversheds and Pinsent Masons.

The firms join a growing list of firms that have now released their results for the last financial year.

Yesterday (17 June) TLT reported an 8% increase in revenue in 2014-15, taking its turnover past the £60m mark.

The firm posted revenue of £62.5m in 2014-15, up from £58m the previous year.