The London office of US and City firm Baker & McKenzie has upped its partner profits by more than half, the firm reported yesterday.

Average profits per equity partner (PEP) shot up 56% to £650,000 for the year ending 30 June 2010, from £418,000 for the year ending 30 June 2009. Revenues rose by 4% to £120m from £115m over the same period. Net profit in London jumped 64% to £39m from £25m.

Globally, turnover at Baker & McKenzie was $2.1bn (£1.3bn) and PEP was $1.1m (£711,000) for the year to 30 June 2010.

The London office’s performance beat pre-recession levels. For the year to June 2008, turnover, PEP and net profit at the firm’s London office stood at £119.8m, £572,000, and £33.5m respectively.

Baker & McKenzie executive committee chair John Conroy said the firm will ‘maintain a tight rein on overall costs through a variety of measures, including increased use of legal and business process outsourcing’ over the coming year.

He said: ‘Across the globe, we have made every effort to align our practices and people more closely to changing client needs and expectations. Though it has varied somewhat by region and practice, the overall demand for these services has grown at an increasing rate.

‘We’re genuinely gratified by these results, but we are far from satisfied. We have more work to do and are presently challenging ourselves to raise the bar still higher.’