Vinson & Elkins has seen profits per partner drop by 8% for 2002 in the first results posted by the Texas giant since the collapse of key client Enron while local rival Akin Gump Strauss Hauer & Feld reported a 12% increase in profits, Legal Week can reveal.

Vinsons, which is based in Houston, saw profits per partner slide 8% to $640,000 (£407,021) from $695,000 (£448,000) in 2001 with turnover down by 1% to $456.5m (£290.3m).