| Turnover: |
£339.6m |
| Profit per equity partner: |
£530,000 |
| Revenue per lawyer: |
£429,000 |
| Total number of lawyers: |
871 |
Akin Gump Strauss Hauer & Feld posted an all but flat turnover result in 2005 that saw the firm increase revenue by just £3.3m ($6m) for the year.
The firm recorded gross revenue of £339.6m ($618m) for 2005, while its £336.3m ($612m) figure for 2004 was a 5 per cent increase on the previous year.
Despite the barely-there increase in fee income, the firm managed to increase average profit per equity partner (PEP) by nearly 5 per cent, but fell short of the $1m (£549,000) barrier. Akin's PEP for 2005 was £530,000 ($965,000), up from £505,000 ($920,000) for the previous year.
Akin, renowned for its energy practice, has offices in Dubai and Moscow to capitalise on that expertise, while it remains primarily Texas-focused with four offices - Austin, Dallas, Houston and San Antonio.
The firm took over the Taipei operation of Shaw Pittman following the latter's merger with Pillsbury Winthrop to launch Akin's first Asia office in April 2005.
The financial outlook for 2006 is mixed for Akin and the firm has had a chequered time of late.
The firm set a New York record for the most expensive office rents for downtown Manhattan when it signed on for 203,000sq ft in the Bank of America tower at more than $100 (£55) per sq ft, giving the firm an annual rent bill of more than $20m (£11m) in the city. The firm will not take up its tenancy until construction completes, sometime in 2008.
The firm also lost a £604,000 ($1.1m) negligence suit in July 2006, brought by a former client.
The firm is expected to benefit with £2.64m ($4.8m) in fees from the Delta Air Lines Chapter 11 restructuring, while its leading white-collar litigation team has been instructed by Silicon Valley's legendary technology lawyer Larry Sonsini, name partner of Wilson Sonsini Goodrich & Rosati, to defend his role in the Hewlett-Packard leaks scandal.
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