Dechert has shrugged off the current corporate slump to post a 15% leap in average partner profits and an 8% increase in fee income, Legal Week can reveal.

The results see the top 50 US law firms recording a turnover of $372.6m (£238.8m) for 2002, against a 2001 total of $344m (£220.5m), with average partner profits up from $765,000 (£490,384) to hit $879,000 (£563,461).