Taylor Wessing is the latest firm to post a dip in turnover for the 2009-10 financial year, with the Anglo-German firm’s UK and global revenue both falling over the period.

The firm’s UK turnover was down by 7.3%, to £84.5m from £91.2m last year. However, average profits per equity partner (PEP) increased by 4.6% from £435,000 in 2008-09 to £455,000 in the last financial year.