Ashurst has posted a 31% rise in profits per equity partner (PEP) to £972,000 ($1.2 million), on the back of strong revenue growth.

The firm's £229,000 ($285,380) rise in PEP for 2018-19 comes alongside top-line growth of 14% to £641 million ($799 million) – up £77 million ($96 million) on last year. However, the firm did not report figures for profit growth.

The firm's global managing partner Paul Jenkins attributed the firm's strong showing to double-digit growth in the firm's key areas, including projects, real estate, strategic advisory, finance and funds, and corporate.

"Our sustained focus in the last year has delivered for the firm, our people and our clients," Jenkins said in a statement. "We have entered FY20 with positive momentum, a great belief in the strategic direction of the firm and determination to deliver on our current and future priorities."

Key mandates for the firm this year include advising: Goldman Sachs on the launch of its digital-first retail banking platform, Marcus; the Dubai government on the $3.4 billion 950MW DEWA Phase IV project, which is the first solar tower project in the Middle East and the largest solar thermal project in the world; and media company Johnston Press on its pre-pack administration sale to JPIMedia.

Jenkins hailed the firm's offices in Greater China and Hong Kong, continental Europe, the Middle East and the U.S. as key contributors to the firm's overall performance, each seeing revenue growth of more than 20%.

The firm recently expanded its Abu Dhabi and Dubai offices to accommodate further growth in the region. Jenkins added that he sees more opportunities in Saudi Arabia after the firm launched in Riyadh last year and picked up White & Case partner Luke Robottom, a longstanding adviser to the Abu Dhabi National Oil Company.

Last June, the firm opened a Luxembourg office, which Jenkins said is "securing some significant opportunities" in the market.