A&O beats budget with rises in turnover and profits

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  • Although trumpeted as magnificent results, these numbers are anything but.
    Yes, A&O has seen a marginal revenue increase - less impressive considering they did open four new offices during this reporting period.
    Equally even after hundreds of redundancies, an apparently plan to increase profitability and all that other jazz, the profit margin remains c. 20% lower than the type of firms that A&O adores to compare itself against.
    But yes, yes. Keep on sustaining that bloated, over-grown international presence.

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  • Keep on sustaining that bloated, over-grown international presence.
    ==================
    Let me guess, you're a partner at Macfarlanes or Travers Smith? Very wishful thinking methinks.

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  • Why is it wishful thinking?
    Both Freshfields and Linklaters have significantly higher profits and an equally impressive international presence. The difference being that they don't pop open shop in every location at a whim.
    Why would any top flight partner stay at A&O if, according to this very publication, the highest paid partners at the aforementioned firms are pulling in £3m+/year.
    Surely that makes A&O's longer equity ladder of 14 years, reaching a plateau of £1.6m, seem like chump change.

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