Profit up 21 per cent at White & Case

White & Case has joined the flurry of US-based firms reporting robust financial results for 2006, with gross revenue up 13 per cent.

The Wall Street firm’s posted global gross turnover of $1.185bn (£644m) during the 2006 financial year, up 13 per cent on the previous year’s result of $1,046bn (£574.7m).

The firm’s average profit per equity partner (PEP) also increased an impressive 21.1 per cent to hit $1.5m (£815,200), up from $1.24m (£681,300) on 2005’s figure.

This comes off the back of net profit of $465.4m (£252.9m) – a profit margin of 29.3 per cent – for 2006. The firm’s average revenue per lawyer, meanwhile, was $666,000 (£362,000).

The results follow similarly promising results from a number of the firm’s US-rivals as a result of last year’s strong top-level M&A market.

For example, LeBoeuf Lamb Greene & MacRae’s reported gross revenue was $513.7m (£279.2m) a 16.75 per cent increase on the 2005 figure of $440m (£242.m).