Hammonds has seen a 61% rebound in partner profits as the national giant moves to regain the initiative with an overhaul of its international strategy.

Average equity partner profits at the top 20 UK firm hit £328,000 from last year’s low of £204,000, while overall profits rose 58% from £19.4m last year to £30.6m before tax. Turnover, however, remained relatively static, inching up just 4% to £132.7m.