Paul Weiss Rifkind Wharton & Garrison has unveiled its financial results for 2006, with the Manhattan outfit posting modest rises in both turnover and profits despite the boom in transactional work in the US.

The firm announced a 6% rise in revenues to reach a mark of $594m (£302m), with profits per equity partner (PEP) up just 1% to $2.5m (£1.3m).