Partners at the Birmingham office of accountancy giant Deloitte have paid themselves an average of £700,000 after they exceeded the firm's overall performance.

The Midland operation beat the performance of its related branches across the country by increasing turnover 12 per cent to £97 million.

This smashed the company-wide performance of the firm, which saw revenues rise by 8.8 per cent to £1,355 million in the year to May 31.

The profits for each of the 43 partners in the Midlands rose from £621,000 last year to £702,000.

Overall profit before tax soared by 11.6 per cent to £419 million.

Richard Edwards, practice senior partner, at Deloitte in the Midlands said: "The last 12 months has seen the Midlands practice perform particularly well.

"Revenue growth for the Birmingham, Nottingham and Cambridge office has been 12 per cent with revenue now standing at some £97 million."

Mr Edwards said the Midland operation of the firm, which employs 836 people, had won a number of high profile clients, including Severn Trent, while its corporate finance and transaction team had enjoyed a good year.

Mr Edwards said: "Our Corporate Finance and Transaction Services team have had a record year working on high profile deals including Interflora, Denby and Baakover.

"The department has experienced some 30 per cent growth - a figure that is on par with the growth of our consulting practice who continue to win clients from the public and private sectors.

"Our tax practice also continues to perform well winning a wide range of both national and international clients.

"Across the region we have seen many exciting changes. Our Cambridge office has relocated into new modern premises and Mark Doleman has recently taken over the Nottingham office as office senior partner. We are confident that growth will continue for the year ahead."

Nationally, John Connolly, Deloitte's chief executive and senior partner, the partners were pleased with the firm's performance.

He said: "The environment has been complex and the market has been very competitive. Each of our four core business divisions audit, tax, consulting and corporate finance performed well.

"We attracted a whole range of new clients from very large, multi skill advisory engagements for major corporates, significant assignments for UK Government and public sector, FTSE 100 and 250 audit appointments and exciting high growth middle market and smaller businesses."

Mr Connolly said the firm had fared particularly well in the merger and acquisitions market, and the firm had been named Europe's Private Equity Accounting firm of the year for the second year running.

He added: "On August 1, we completed the transaction which brought the Burlington commercial due diligence partners and staff into our firm which will further expand our offering in this area.

"The high growth in audit was in part driven by the flow of regulatory and risk engagements much of this associated with US Sarbox implementations.

"Our consulting strength and the differentiation this brings to our industry expertise helped to deliver good growth across most sectors but especially so in public sector, financial services, and energy and TMT. In travel, tourism and leisure we advised on over 75 per cent of the major transactions which will shape the future of the UK Tourism, hospitality and leisure