Travers Smith revenues have surged 15% to hit £185.7 million, its latest provisional financial results have shown.

The firm’s profit per equity partner figure, meanwhile, rebounded by 21% to hit £1.22 million. Last year, the firm’s PEP dropped by 20% to approximately £1 million amid a revenue slip of 1%.

Travers Smith’s managing partner Edmund Reed commented in a statement: ”None of us were expecting that we would be living and working under lockdown restrictions for such a long period of time. The way our people performed during the crisis continues to be amazing: by supporting each other both professionally and personally, every team across the firm has contributed to produce these excellent results.

“Key to our performance has been our continued investment in our business, including building across our core areas of asset management, M&A and dispute resolution and investigations. This has enabled us to attract a number of significant instructions from clients, which have kept our teams busy.”

Key mandates for the firm during the latest financial year included advising long-standing client European life sciences investment firm Medicxi on a €200 million structured secondary transaction and leading for Hewlett Packard Enterprise on fraud claims amounting to $5 billion arising out of the $11 billion acquisition of Autonomy Corporation.

 Travers’ latest results place it ahead of the likes of Herbert Smith Freehills and Simmons & Simmons for PEP, though its revenues sit behind that of rival U.K.-only outfit Macfarlanes, which measured turnover of £261 million during the latest financial year. Macfarlanes announced in July that its profit per equity partner figure surpassed £2 million for the first time, putting the firm on a par with elite firms such as Allen & Overy.