Baker McKenzie has posted modest global revenue and profit per equity partner (PEP) increases for 2018-19 – a year in which the firm faced a “challenging” market.

Global revenues at the firm grew 4.4% to $2.92 billion on a “constant currency basis”, according to the firm’s latest financial statement. However, once the “adverse affects of the currency exchange” are accounted for, growth shrinks to 1.2%.