Bingham McCutchen’s London office has posted a 4.6% drop in turnover for 2008, while profits per equity partner (PEP) have risen by more than 7%.

The US firm’s City arm took in $31m (£21.3m) in revenues over the 2008 calendar year compared to $32.5m (£22.3m) during 2007. PEP rose to a new mark of $1.88m (£1.29m) from the firm’s 2007 figure of $1.75m (£1.2m).