Latham revenues rocket as market returns to health

Latham & Watkins has smashed the billion dollar mark after reporting a searing 14 per cent increase in gross revenue for 2003.

The firm has recorded $1.032bn worth of fees in the last calendar year on $906m in the previous 12 months while average profits per partner jumped 12 per cent to $1.273m compared to $1.1m for 2002.

Sources said that on average US firms are expected to report top line increases of between 5 per cent and 10 per cent for the last financial year, but Latham has smashed these estimates.