Dechert has unveiled fee income and profits growth of over 20% for 2005, as the Philadelphia giant polishes off a breakthrough year by smashing the half a billion dollar fees barrier.

The 900-lawyer firm saw revenues soar by 30%, jumping from 2004′s $440.7m (£253m) to hit $576.8m (£331.1m), on the back of an aggressive lateral hiring spree.