Law firm Cobbetts has posted a 20 per cent like for like increase in its annual-fee income, enabling it to break through the £50 million mark for the first time.
But the firm, which has a substantial Birmingham office, saw a reverse in profit per partner - down five per cent to £190,000.
Growth follows a hectic year in which Cobbetts entered the Top 50 UK law firms list and was involved in a series of mergers, including with Birmingham-based Lee Crowder in May 2004 and Wilbraham & Co in September last year along with the acquisition of the social-housing practice of Walker Charlesworth & Foster in the October, both based in Leeds.
The firm moved its 250 Birmingham staff to prestigious new premises in No1 Colmore Square, and has two additional office moves underway in Manchester and Leeds.
Cobbetts' managing partner, Michael Shaw, said: "This has been an extremely significant year for Cobbetts.
"It has seen us move from being a two site, 80-partner firm to one represented in the three key regional centres outside London with 135 partners. The firm has increased its fee income from £41.8 million, which was a combination of the Cobbetts and Lee Crowder merger, to over £50 million, resulting in 20 per cent of predominantly organic growth over this past year."
He added: "I am particularly pleased that we have put in such a strong performance at a time when so much has been going on within the firm whilst managing to stay focused on delivering extremely healthy year end results."
He said that, while profits per partner had seen a "slight reduction", all exceptional costs of the mergers and acquisitions, funded from within the business, had now been dealt with, the premises strategy was well advanced and the firm had achieved strong organic growth, supported by a recruitment programme successfully targeting senior personnel from other national firms.
Stephen Benson, senior partner, acknowledged they would have preferred to see a rise in profits per partner, and said the setback was down to all the merger activity.
He said: "The focus has not been on profitability. In the context of going from 30-50 million fee income something had to give, and that is what has given.
"The next 12 months will be about consolidation and the management team can get back to driving the profitability of the business."
Mr Shaw said the firm's strategy of creating niche specialisms alongside its core practice areas was also proving to be particularly successful.
The public markets team had acted on 16 AIM flotations alone, including bringing the first Ukrainian trading group to the London stock market.
The planning practice too, which operates under the name Wilbraham & Co, had also had a great year, bringing new clients to the firm and opening up opportunities for other practice areas through its strong links to some of the biggest names in UK business.
Cobbetts' finance director, James Boyd, said: "The firm is in extremely good shape financially and we have created a sustainable business for the future. We are in an excellent position to look forward with confidence and to hit our targets for next year."
Cobbetts has eight national core practice areas: corporate, commercial property, banking, commercial, litigation, social housing, employment and private client.