Eversheds has announced a 6.5% rise in revenue in the 2015-16 financial year as the firm's profit per equity partner (PEP) remained broadly static.

The firm's revenue was £405.5m in 2015-16, up from £381m in 2014-15.

The results mark a return to revenue growth for the firm after posting essentially flat results the previous year – from £379.1m in 2013-14 to £380.7m in 2014-15, an increase of less than half a percent.

This year, net profit remained static at £87.5m and PEP increased slightly from £740,000 to £742,000.

Eversheds' CEO, Bryan Hughes, said: "Eversheds' financial performance for 2015/16 was very much in line with our plans and expectations. We made the decision to make significant investments across the board, and are pleased that we maintained our net profit position notwithstanding these investments."

He pointed to "significant operational investments" in the firm's IT infrastructure and also noted the full financial integration of the firm's German business on 1 May 2015.

Hughes added: "We saw growth in the majority of our practice groups and regions – most notably, double-digit increases were achieved in the Middle East and in Asia and also in our consulting arm. Our London HQ also enjoyed strong growth."

During the course of the year, Eversheds had a round of unsuccessful merger talks with Milwaukee, Wisconsin-headquartered firm Foley & Lardner, which was part of its long-held desire to seal a US merger.

The firm also scored a number of panel wins, including places on Tata Chemicals European panel, the Co-Operative Bank's inaugural legal panel and a place on oil giant Shell's legal panel.