Baker & McKenzie reports 8% growth in revenue over 7% growth profits
Baker & McKenzie has reported growth in gross revenue and average profits per partner in the past financial year.
The firm’s gross revenue hiked 8 per cent to a record $2.27 billion, while profits per partner rose 7 per cent to $1.2 million. This is a significant turnaround since last year, when gross revenue dropped 0.4 percent, and the firm's 13 per cent increase in profits per partner was attributable to significant cost-cutting measures.
Executive committee chairman Eduardo Leite said: "Our global platform is one reason why we had a strong year," adding: "We benefited from our long-established presence in emerging markets like Brazil, China, and the [Persian] Gulf and economies that are rich in natural resources like Australia and Canada."