Ince & Co has posted a double-digit fall in UK revenue for 2017-18, as total revenue at the firm fell by 5% during the financial year.

International revenue fell from £88.5m to £83.4m, while UK revenue dropped by 11% from £48m to £42.8m.

The firm did not report a profit figure or profit per equity partner (PEP); however, it did confirm that equity partner numbers had fallen from 82 to 76.

International senior partner Jan Heuvels (pictured) said: "We performed well in 2016-17, and despite the current uncertainty in the global transport and trade markets, our latest financial results demonstrate the resilience of our firm. We have minimal borrowings and our 2017-18 revenue figure is considerably higher than it was in 2015-16."

The firm's total revenue in 2015-16 was £76.2m; however, this came after three consecutive years of falling turnover from £91.7m in 2012-13.

Heuvels added: "Our focus on internationalising the firm has enabled us to ensure that we have the best people in all the key geographical locations and markets where we have chosen to operate. As a result of this strategy, revenue in our international offices has increased by 22% over a three-year period."

In November 2017, Heuvels relocated from London to the firm's Hong Kong office. At the time, he said that the move was "simply about playing to our strengths" and that the region gave Ince "a strong foundation for future growth".

Last week, the firm also completed a redundancy consultation that saw the loss of 32 jobs in London, including seven fee earners of which one is a salaried partner. Following the redundancies, the firm is looking to sublet 7,690 sq ft of its total floor space in Aldgate Tower. The space represents 22% of the 35,000 sq ft office space.

The firm is also paying half of its autumn intake of trainees £7,000 to defer their start dates by a year, in a move understood to be linked to the redundancies.