Chicago, October 20, 2005 – LAWFUEL – The Law News Network – Baker & McKenzie announced today that the Firm’s global fee income for its fiscal year 2005 (ended June 30, 2005) exceeded US$1.352 billion. This represents a 10 percent increase on the previous year’s income of US$1.228 billion.
In addition, Baker & McKenzie reported nearly a 15 percent increase in per partner profits (PPP) over the previous fiscal year. The Firm reported a 10 percent increase in PPP in fiscal year 2004.
John Conroy, Chairman of Baker & McKenzie’s Executive Committee, commented, “We are extremely pleased to post double-digit revenue growth this year – a tremendous accomplishment, especially during a time of continuing weak economies in parts of Europe and Latin America. These robust financial results represent the fruits of the significant investments we have made in the core practices of our business and also reflect deepening relationships with some of our most valued clients. This result also reflects well on continuous proactive attention to effective cost control across the global enterprise.”
“Our 10 percent growth helped fuel a healthy increase in our per partner profits—up more than 26 percent over the past two fiscal years. We look forward to continued financial success as we advance our Firm strategy throughout the current fiscal year.”