Top partners at Birmingham-based Pinsent Masons are set to break the half a million earnings barrier.
And the law firm has crashed through the £200 million fee income level.
It posted annual fee income of £213 million, up by £21 million, an 11 per cent rise.
Pinsents said the increase continued an upward trend, demonstrating healthy growth in all areas despite the credit crunch. Over the four-year period since the merger to create Pinsent Masons, fee income has increased over 40 per cent.
The profit per equity partner figure is provisional and will not be known for weeks but is expected to be close to £500,000, up from £471,000.
Fee income growth was achieved across all groups with particularly strong gains in property; corporate – in the face of difficult market conditions including completion of its largest transaction: advising Abbot on its £900 million sale to Turbo Alpha – and dispute resolution and litigation.
Banking and insurance continued to show strong year on year growth, up 17 per cent.
Projects and transactional work was up more than 20 per cent.
The firm is continuing to invest heavily in infrastructure including new premises in Manchester, doubling its office space in Glasgow and new offices in Dubai.
Managing partner, David Ryan, said: "We have achieved another year of good progress, a third year of double digit growth, further reinforcing our and the market's confidence we can continue the successful journey we started three years ago. We have achieved this during a period of economic difficulty, so our performance in the last few months is particularly encouraging. In terms of activity, the last three months have been a record."
Pinsent Masons has more than 290 partners and more than 1,000 lawyers. The firm ranks amongst the top 100 global law firms.
In the UK, it has offices in London, Birmingham, Leeds, Manchester, Edinburgh, Glasgow and Bristol. Internationally, it is based in Shanghai, Beijing, Hong Kong, and Dubai. The firm is allied to independent law firms in Germany, France, Austria, Hungary, Turkey and the Baltic States.
It has also announced a series of promotions at its Birmingham office.
Anne Adamthwaite, Sarah Lines, Hazel Nickless in the projects and international construction team, Lucy Edwards in property and Graeme Walton in banking and insurance have been promoted to legal director.
Emma Callow, Nicole Livesey, Zanna Patchett have been promoted to senior associate in the corporate department, Sarah Murray in the outsourcing, technology and commercial team and Charles Rae in the employment, pensions and tax team. Max Creighton has been promoted to associate in the firm's employment, pensions and tax team.