Addleshaw Goddard and Osborne Clarke (OC) have both broken the £500,000 average profits per equity partner (PEP) barrier for the first time after posting strong financial results for 2006-07.

Addleshaws managed a 14.8% rise in PEP to hit £542,000, while turnover at the national firm was up 13.1% to a new mark of £176.7m.