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King & Spalding Worldwide Revenues Reach a Record $582 Million
Profits per Partner up 25 Percent to a Record $1.3 Million
| Source: King & Spalding
ATLANTA, GA -- (MARKET WIRE) -- February 16, 2007 -- King & Spalding, a leading international law
firm, announced today record worldwide revenues of $582.448 million and
record profits per partner of $ 1.312 million for the fiscal year ending
December 31, 2006. These performances represented increases of 13.2 percent
and 25.0 percent, respectively, over the prior year. The firm also
announced a 14.7 percent increase in revenue per partner in fiscal 2006, to
$782,000.
"Our continued growth in the past fiscal year is the result of the efforts
of the 800 King & Spalding lawyers worldwide," said Robert D. Hays, Jr.,
chairman of the firm. "I believe we have been successful because we provide
our clients with the best legal advice, superior service and a deep
understanding of their industries. In addition, we have a firm culture that
enables us to partner with our clients to address their sophisticated legal
needs and business issues."
Among the factors contributing to King & Spalding's performance in the past
year were continued success and expansion in the health care,
pharmaceutical and energy practices as well as growing client demand in the
areas of Islamic finance, energy, real estate, private equity and
international arbitration in the Middle East, Asia and North Africa. In
response to that demand, the firm recently opened an office in Dubai,
United Arab Emirates. In addition, the firm is entering its third year of a
process improvement program that has brought about greater efficiencies in
many areas firm wide.
Hays said the firm was strong in virtually every practice area in 2006 and
is well-positioned to serve companies with a high volume of work and
ongoing need for legal services.
About King & Spalding LLP
King & Spalding LLP is an international law firm with more than 800 lawyers
in Atlanta, Dubai, Houston, London, New York and Washington, D.C. The firm
represents half of the Fortune 100, and in a Corporate Counsel survey in
August 2006 was ranked one of the top ten firms representing Fortune 250
companies overall. For additional information, visit http://www.kslaw.com/.