Chicago, Illinois, 11 October 2004 LAWFUEL – Law, attorney, legal, law firm news– Baker & McKenzie announced today that the Firm’s global fee income figure for its fiscal year 2004 (ended June 30, 2004) exceeded US$1.228 billion. This represents an 8% increase on the previous year’s income of US$1.134 billion. Of the total fees for fiscal year 2004, 42% was generated in Europe & Middle East, 34% in North & Latin America and 24% in Asia.
Fueled by the growth in revenues and prudent cost management, both total net income and average profit per partner increased by 10% over the prior year.
Commenting on the results, John Conroy, Chairman of the Executive Committee, said, “These impressive figures speak for themselves. In a challenging year for the legal industry we have generated strong revenue growth and improved income and per partner profitability across our practice. Our business is in robust financial health, and our strategy and investments are providing sustained returns. As I begin my term as Chairman, I look forward with confidence to further growth and success.”