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Travers Smith has posted a 15 per cent increase in both its average profit per equity partner (PEP) and turnover. PEP for the year 2006-07 came in at £810,000, with turnover at £78.3m. Chris Carroll, managing partner at Travers, said the results are a strong reflection of booming market conditions over the past 12 months and the firm's client list and corporate teams. The corporate team secured a number of notable deals, including Merlin Entertainment's £1bn acquisition of Tussauds, while its litigation practice also registered a strong year. The year also saw Travers close its German office, leaving the firm with just one remaining overseas office in Paris.