Law firm Allen & Overy have increased their revenue. That is good news in these unstable and challenging times. Though growth is not where many would like it to be, yet positive growth is still a good thing to hear. Bloomberg reports that their profit per equity partner, a key gauge of law firm profitability, was stable at 1.1 million pounds during the last financial year. The firm attributes its performance to consolidation, five years of investments, and the opening of 14 new offices.
Wim Dejonghe, the firm’s managing partner, said in a phone interview, “it is a combination of looking for revenue growth, combined with efficiencies that we’re introducing into the business, that started delivering long-term growth.”
Allen & Overy is a multinational law firm headquartered in London, United Kingdom. Founded in 1930, Allen & Overy has grown to become one of the largest law firms in the world, both by number of lawyers and revenue. The firm has over 5,000 staff including over 500 partners in 42 offices worldwide. The firm provides legal advice in Europe, the Americas, Asia, Australia, Africa and the Middle East. Allen & Overy is a member of the UK’s Magic Circle of the top five leading law firms. They are widely considered to be one of the world’s elite law firms, advising national and multinational corporations, financial institutions, and governments.
Considering the firm’s caliber, it is not surprising that in these challenging times, they are still able to open offices around the world and maintain positive revenues and growth.