DLA Piper smashes $2bn barrier for global revenue

Income at DLA Piper has broken the $2bn (£1.03bn) barrier after the transatlantic giant posted an 18.7% rise in global revenues for 2007.

Fees at the Anglo-American firm reached a combined $2.1bn (£1.01bn) across the firm's US and European operations - up from a total figure of $1.8bn (£918m) the previous calendar year, when the firm achieved growth of 17%.

Profits per equity partner (PEP) rose by 8.3% to $1.28m (£660,000), up from $1.18m (£610,000) in 2006.

Commenting on the results, DLA Piper joint chief executive Nigel Knowles (pictured) said: "We have performed well... [and] expect our progress to continue unabated through 2008, albeit under more challenging market conditions."

Fellow joint chief executive Frank Burch added: "These numbers are strong across all of our core practice areas. They reinforce the decision we made three years ago to be a leading business law firm on a global scale."

The news comes after Latham & Watkins became the latest firm to join the $2bn club after emerging as a star performer in US results season.

The Los Angeles giant saw turnover and PEP rise by more than 20%, with revenues jumping to $2.005bn (£1bn). PEP, meanwhile, rose from $1.86m (£954,000) to $2.27m (£1.17m).

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