Paul Hastings Janofsky & Walker has unveiled its financial results for 2002 with a 9% boost in revenues and a 7% increase in average partner profits – becoming the third major Los Angeles practice to shrug off last year’s slowdown in corporate activity.

The top 25 US firm saw revenues for 2002 hit $487m (£303.7m), up from $455.5m (£284m). At the same time, the firm’s average profits per partner rose 7% to hit $940,000 (£586,200).