Allen & Overy Reports 11 Percent Jump in Revenues
The first British law firm to report its revenues formally for the first half of the fiscal year managed to see a double-digit gain despite the economic downturn.
Allen & Overy said its revenues jumped 11 percent for the first half of the fiscal year that began May 1, the American Lawyer reports. The magazine said the firm’s revenues stood at about $856 million based on the exchange rate, compared to $771 million for the same period last year.
The firm’s managing partner Wim Dejonghe attributed the growth to the firm’s investment in building a multidisciplinary firm with a global reach, the story says. He also said the top firms are able to pick up the best assignments in the shrinking market for work.
Four other law firms reported expectations of double-digit growth in a Legal Week article published earlier this month. They are Trowers & Hamlins, Lovells, Norton Rose, and CMS Cameron McKenna.
