A&O grows revenue 15% to join billion-pound club
Allen & Overy (A&O) has become the latest firm to push through the billion-pound barrier, with the firm reporting revenues climbing to £1.01bn for 2007-08. The magic circle firm saw a 15% turnover in income, up from £887m the previous year when the firm posted a 20.5% revenue rise.Profits at the financial giant climbed by 9%, bringing the average profits per equity partner (PEP) to a total of £1.12m for the past year, a change from last year when PEP surged by 31% pushing the firm past the million-pound mark.
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