A&O revenues dip in first half
Allen & Overy has reported a 3 per cent drop in revenue for the first half of the 2012/13 financial year, from £582m in the same period last year to £566m this year. When the revenue figures are presented in euros, however, the firm’s revenue shows growth of 1 per cent from €664m to €703m.
The firm saw strong earnings in Germany, Poland, South East Asia and the Middle East. Managing partner Wim Dejonghe said: “Market conditions will no doubt present further challenges during the second half but we’re confident that if we maintain our focus and stay close to our clients, the underlying resilience of our business will stand us in good stead.”