DAC Beachcroft managing partner, David Pollitt

DAC Beachcroft grew its turnover by 6% last year to hit £243 million, as the firm continued to reward staff with record bonus payments totalling £8.7 million.

PEP at the firm rose 7% to reach £570,000 while the firm's net profit grew to £52 million, an increase of £5 million (10%) on the previous year.

Growth has curbed since last year's figures, when profits and PEP grew by 21% and 23% respectively.

The firm also reduced its net debt during the most recent financial year, having £1 million net cash by year-end.

DAC Beachcroft managing partner David Pollitt said in a statement: "These results point to the vast array of activity taking place across our firm. We act for all of the UK's top 10 insurers; we are market leaders in the provision of strategic, corporate, commercial and regulatory legal advice to providers and commissioners in the health sector; and we advise all of the UK's top 12 housebuilders.

"We continue to invest in building an innovative and inclusive law firm. Earlier this year we completed a significant new rebrand, and we are continuing our development of a new practice management sytem. Also during the last financial year, we welcomed 15 new partners to the firm, five of whom were women."

During the year, DAC Beachcroft launched offices in Paris and Northern Ireland and moved into new global headquarters in the City of London.