A&O turnover down 7 per cent at half-year stage

Allen & Overy’s (A&O) global revenues are down seven per cent year-on-year for the first half of 2009-10, with turnover standing at £511m. For the six months to 31 October last year, the firm reported global turnover of £548m. According to the firm’s managing partner Wim Dejonghe A&O has been slightly insulated from the fall off in transactional activity because more than half its revenues are now generated overseas. In terms of the performance of individual practice areas, he said: “Banking, restructuring and litigation have been very strong for us across the firm. M&A activity has been down by 50 per cent across the market and this is reflected in our practice.”

A&O turnover down 7 per cent at half-year stage thelawyer.com Sat, Nov 7, 2009