First Danish law firm to publish annual report

March 2004

With the publication of its annual report for 2003, Bech-Bruun Dragsted is the first law firm in Denmark to make its financial statements available to the public. The key words are openness, new standards and market orientation.

As the first law firm in Denmark, Bech-Bruun Dragsted has chosen to publish its financial statements.

"At a time when we advise our clients to focus on transparency and corporate governance, law firms also need to set new standards" says Lars Svenning Andersen, Bech-Bruun Dragsted's Managing Partner.

The financial results for 2003 are considered satisfactory. "We have achieved a satisfactory result in spite of difficult market conditions in recent years. Several practice areas have performed better than last year, and this is primarily due to the fact that we continue to deliver high-quality and very competitive advisory services to our clients".

"Fee income for 2003 amounted to DKK 476 million, equivalent an income per fee-earner of DKK 2 million against DKK 1.9 million in 2002. So despite a generally declining market for legal services in 2003, we have succeeded in generating growth and improving our market position."

"In 2001 one of our objectives was to be involved in almost all cases of significance to the Danish business sector and Danish society as a whole, in which extensive legal expertise and specialist knowledge was required. We reached this goal in 2003" concludes Mr Svenning Andersen.

Read our annual report for 2003