DWF has broken through the £200m barrier with revenue growth of 7.6% against a 9.8% drop in profit per equity partner (PEP).

Insurance-focused DWF posted revenue of £201.3m for the 2016-17 financial year, up from £187.1m the preceding year. However, PEP fell to £305,000 from £338,000.

Equity partner numbers grew 5.8% to an average across the year of 68.9 and total partner numbers grew 9.4% to an average of 275.8.

DWF's CEO Andrew Leaitherland (pictured) said: "We have achieved solid revenue growth and a profit figure which reflects the investments we continue to make in line with our strategy of doing things differently. We have continued to challenge the traditional legal model and, as we look to the year ahead, believe that our geographical expansion and the development of tech-driven services that complement our core legal offering have laid the groundwork for a further step-change for our business."

The firm was typically expansive during 2016-17, merging with 20-partner Belfast firm C & H Jefferson in December, acquiring claims manager Triton out of administration in January and acquiring teams for launches in Paris and Berlin in January and April, respectively.

Meanwhile, Blake Morgan, which has offices in southern England and Wales, has announced a 0.6% fall in revenue to £74.5m, down from £74.9m. However, PEP grew nearly 8% to £204,000, up from £189,000 the previous year.

The firm's managing partner Mike Wilson said: "Last year's financial out-turn demonstrates that the restructuring measures and growth strategy we commenced at the start of 2016 are working to deliver strong and sustainable profits, not only for 2016-17, but as a platform for the forthcoming years.

"Our success this year is down to the commitment of our people, securing 'buy-in' to a revised business strategy, and starting to see the returns on our significant investments following the opening of our flagship offices in London and Cardiff, alongside the introduction of new IT systems.

"Blake Morgan will be making further investments in technology and a number of strategic hires later this financial year," he said.

Blake Morgan was created by the merger of southeast England firm Blake Lapthorn and Cardiff-headquartered Morgan Cole in 2014.