Watson Farley & Williams has bucked the industry growth trend with falls in global revenue and profit per equity partner (PEP), while fellow U.K. top 50 firm TLT had another year of strong turnover growth, the latest financial results across the group show.

Revenue at WFW fell slightly by 1.2% to just over £180million, while PEP dropped by 4% to £553,000 – down from £570,000 last year. To date, it is only the second firm after Stephenson Harwood to have announced a dip in revenues for the financial year 2020-21