Multinational law firm Baker McKenzie has announced record revenues for the fiscal year ended 30 June 2019 of $2.92 billion.
In terms of constant currency, Baker’s revenues were up 4.4% compared to the previous year. In United States dollar terms, the law firms reporting currency, this translates into growth of 1.2%, after the effect of adverse currency exchange.
Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line figure from which costs are subtracted to determine net income. Revenue is also known as sales on the income statement.
Baker McKenzie remains the most geographically diverse global law firm and all of our regions recorded growth as follows: EMEA +5.2%, AP +2.1%, LA +9.0% and NA +4.0%
All of their key financial metrics improved over last year: revenue growth, net income, profit margin, Profits per Partner, Revenue per Partner and Profits per Lawyer. Baker are especially pleased to accomplish this amid a market with flat demand.
PPP was up by 3% to $1.48 million in United States dollars. Overall net income or profit rose by 2% to $1 billion. Over the last decade the law firm has grown by 40% in terms of revenue and 50% in terms of PPP, outperforming most of our competitors.
Among our standout markets, all with significant double-digit growth, include Bogota, Buenos Aires, London, Prague, Turkey and Warsaw.
Baker McKenzie Overview
Baker McKenzie is a multinational law firm headquartered in Chicago, Illinois. Founded in 1949 as Baker & McKenzie, it has 77 offices in 46 countries, and over 6000 lawyers worldwide. It is one of the largest law firms in the world by headcount and revenue.