Debevoise & Plimpton has unveiled stellar financial results for 2007, with the New York law firm seeing both partner profits and fees climb by more than 20% over the last 12 months.

Profits per equity partner (PEP) at Debevoise rose by rose by 26.5% from $1.81m (£908,000) last year to a new high of $2.29m (£1.15m). Global revenue, meanwhile, was up by 23.4% from $575m (£288m) in 2006 to $709.54m (£355.84m).