Allen & Overy (A&O) has set an early Magic Circle benchmark, today unveiling a robust 10% uptick in global revenues from £1.77bn to £1.94bn.
Growth was broadly matched in terms of profit before tax, which was up 9% from £822m to £900m. This translated to a milder 3% jump in profit per equity partner (PEP) from £1.9m to £1.95m, but the figures are cast in a favourable light given significant US investment.
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