Gibson Dunn & Crutcher’s strong performance in the US M&A market last year 2002 helped drive the firm’s profits up 7% in the latest evidence of US firms shrugging off the slowdown in deal activity.

The Los Angeles-based firm posted 2002 revenues of $569.35m (£360.7m) up 6.1% from its 2001 total, while average partner profits rose from $1.105m (£700,000) to $1.185m (£750,000).