Half-year revenue leaps 18 per cent for A&O

Allen & Overy has posted an 18 per cent jump in its half year revenue.

The magic circle firm’s turnover for the first six months of the 2006-07 financial year stood at £422m compared to £358m for the same period last year.

A&O managing partner David Morley said in a statement: “This is very healthy organic growth. It results from buoyant M&A and finance markets but most of all from our ability to combine impressive individual talent with a great team effort across the firm.”

He added: “The figures show the true strength of A&O around the world. They also demonstrate how, alongside our stellar ICM and banking practices, the corporate business is a real powerhouse that is performing strongly.”

A&O’s average profit per equity partner for the last financial year shot up by 20 per cent from £656,000 to £788,000. Turnover, meanwhile, increased by 11 per cent from £666m to £736m, according to the firm’s limited liability partnership accounts.