Travers turnover up 25 per cent

Travers Smith has posted significant increases in both total revenues and profits for the 2005-06 financial year.

Turnover at the City firm rose 25 per cent to £68.1m while average profit per equity partner smashed the £700,000 barrier, at £705,000.

Managing partner Chris Carroll said trading conditions had been “very benign”. He said the increase in turnover had not come about through buying revenue through mergers or acquisitions while the profit rise had not come through cutting costs.

“We have simply been generating more revenue from the same cost base, right across the firm,” he added.

The corporate-led firm’s biggest deal of the year was the $6bn merger of Telewest and ntl, on which it advised ntl. It also acted for the management on the £2.18bn sale of Coral Eurobet, for Macquarie on the £1.8bn acquisition of Moto Service Stations, and for Peel Ports on its £771m takover of The Mersey Docks and Harbour Company.