Baker Botts L.L.P., a leading international law firm announced its revenue and profitability increased dramatically in 2014.
For 2014, the firm’s gross revenue increased by approximately 11.4% to $653.0 million. Net income increased by approximately 22.6% to $299.3 million while profits per partner increased by approximately 25.5% to $1.7 million. Revenue per lawyer increased by approximately 9.5% to $942,000 in 2014.
“2014 was an exceptional year. While our recognized strengths in energy and technology clearly contributed to these impressive results, we had substantial increases across every practice area and across every geography, reflecting the diversity and depth of our domestic and global practice,” said Andrew M. Baker, firm Managing Partner.
“While virtually all of our markets experienced greater competition, our lawyers and staff rose to the occasion,” said Mr. Baker. “Double digit increases of this magnitude in gross revenue, net income and profits per partner demonstrate the recognized ability of our firm to provide cutting-edge superior client service while providing exceptional value to our clients across the globe,” added Mr. Baker.
“We achieved these results while making sizable new investments in our long term growth in the form of substantial new marketing, business development, practice management, pricing and information technology systems,” added Mr. Baker.