Addleshaw Goddard

Addleshaw Goddard's top-earning partners will take home in excess of £1m for 2015-16, figures released by the firm show.

Partners at the top of the lockstep will receive £1.122m, up from £936,000 – an increase of nearly 20%.

The news means the firm has beaten its target of top-earning partners making at least £1m a year by 2019, by three years. The target was set as part of the firm's five-year strategy unveiled at its December 2014 partner conference.

Partners at the bottom of the firm's equity will receive £295,000, an increase from £246,000 last year.

The growth came as the number of full equity partners at the firm fell, from an average of 96.1 in 2014-15 to an average of 86.7 in 2015-16, a fall of just under 10%.

Despite the increase, partners have had their profit distributions delayed in the wake of the Brexit vote, while fixed-share partners and the rest of staff had their August salary reviews pushed back.

Addleshaws is currently in merger talks with Virginia-headquartered US firm Hunton & Williams, although the discussions are understood to have been affected by Brexit, with the two firms slowing the process to assess the fallout from the UK's vote and the uncertainty caused by the upcoming US presidential election.

Addleshaws announced revenue of £201.8m in 2015-16, up from £192.4m the previous year.

Its average profit per equity partner grew to £682,000, up from £491,000 in 2014-15.