Law firm Baker McKenzie sees record income

LEGAL giant Baker & McKenzie is set to report record global fees and a 10 per cent hike in profits per partner (PEP) when it announces full-year results today.

The law firm, which has around 750 staff in its largest base in London, said global fee income rose five per cent to $2.42bn (£1.56bn) in the year ending 30 June.

Meanwhile PEP climbed to $1.2m, on net income which rose nine per cent to $862m.

The company said revenue growth was steady in all regions, with 37 per cent of revenue from Europe, the Middle East and Africa (EMEA), 28 per cent from Asia Pacific and 35 per cent from the Americas.

The firm cited advising General Motors/Opel-Vauxhall on its agreement with Unite over the Ellesmere Port plant, Best Buy on the sale of its Carphone Warehouse stake and FedEx on its challenge to the UPS-TNT merger as notable UK contracts.

“Our strong emphasis on becoming a more client-driven firm has had a positive effect on both our revenue and profits even in another challenging year for the global economy,” said Eduardo Leite, chairman of the executive committee.