Beiten Burkhardt, the former German member of the defunct KPMG legal arm, has reported strong year-end results.
The firm, which formally severed its links with KLegal in January 2004, turned over €70m (£48.8m) last year; the average profit per equity partner figure stood at €420,000 (£292,500), with partners at the bottom and top of equity taking home €250,000 (£174,100) and e1m (£700,000) respectively.
The preliminary results are the first to be published since Beiten gained independence from KLegal and after the firm changed its year-end from 30 September to 31 December in 2003.
Commenting on the results, Beiten partner Jack Schiffer said the preliminary figures were presented to partners earlier this month and that the firm was very happy with the results. He claimed it was very difficult to compare the results with previous years’ due to the change in the financial year.
Beiten’s labour law and public procurement practices reported the biggest increases in turnover.