Fulbright & Jaworski has reported relatively robust financial figures for the 2008 calendar year, with revenue and profits both rising by around 7 per cent.
The US firm saw average profits per equity partner rise by 7.35 per cent, up from $776,966 at the end of 2007 to $833,000 at the 2008 year end.
Over the same period global revenues rose 6.96 per cent, from $649.5m to $694.6m.
Last year the firm ramped up its international network to focus on its Middle Eastern capabilities.
In January 2008 The Lawyer reported on the firm hiring litigator David Silver from Qatar firm Hassan Al-Khater to build up its Dubai office. Fulbright also relocated London-based partner David Moroney to head the firm’s Middle Eastern energy practice (15 January 2008).
Fulbright’s financial performance compares favourably to most of the other firms that have already announced 2008 figures. Earlier this week Greenberg Traurig announced a revenue increase of 0.25 per cent during 2008, up from $1.203bn to $1.2bn. At the same time the firm’s PEP grew to $1.31m from $1.3m (26 January ).
At Paul Weiss Rifkind Wharton & Garrison revenues were up 6.3 per cent while PEP rose 2.3 per cent (23 January ) and at Reed Smith a 10 per cent revenue hike was coupled with a 6.5 per cent drop in PEP ( 23 January).