Simmons & Simmons has posted revenue growth of 12% for 2017-18, with profit per equity partner (PEP) increasing by 8% to reach £686,000.

The double-digit revenue growth, which comes after the firm saw turnover increase 7.1% last year, has taken Simmons' top line to £354m, with net profit rising 19% to £110m.

The firm said that 76% of its income had been generated by its four core sectors – asset management and investment funds, financial institutions, healthcare and life sciences, and technology, media and telecoms.

Key drivers for this year's improved results were particularly strong performances from the firm's dispute resolution, technology and regulatory practices, including work resulting from the implementation of the General Data Protection Regulation (GDPR).

Managing partner Jeremy Hoyland said the firm had been recruiting partners more actively than ever, with 25 laterals joining during the year, including the recent City hire of derivatives partner Matthew Hebburn from Allen & Overy. During the year, the firm's total number of equity partners rose 10% from 145 to 160.

Major developments during the year included the firm's launch of an office in Dublin in March, while online business products also contributed to revenue growth, with financial services and tax regulator service Navigator generating £8m-£9m. The firm's resourcing platform Adaptive, which gives clients access to lawyers for contract assignments, has also seen turnover nearly double since last year to £10m.

Hoyland said: "Our commitment to clients is firmly at the centre of everything we do. This year has been a prime example of that with the opening of our office in Dublin, an increased sector focus, and lateral hires and internal promotions in areas where our clients most need our support."