Bakers blames 4pc drop on currency fluctuations

A 4% decline in revenues, taking Baker & McKenzie to US$2.43b globally, relates to currency devaluation issues which turned an increase into a fall, according to the firm's chair.

Eduardo Leite said that 'in like-for-like currency', the firm has actually seen growth of 2.2%. Mr Leite also said that the conversion of the firm's technology platforms into a single integrated system slowed down the firm's billing but will feed in positively into the results for the current year.

Profit per partner

Profit per partner fell 3.1% to $1.29m (from $1.25m). By contrast, in 2013/14, it had risen 7%. The number of fee-earning staff (when put on a full-time equivalent basis) rose from 4,245 to 5,685. The firm looks likely to be formally overtaken in terms of headcount by Dentons Dacheng when that merger is finally sealed in a few months. Source: The Lawyer

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