More financial results
A&O Shearman has reported global revenues of £2.9 billion for the past financial year — the Magic Circle firm’s first set of results since its merger completed last year.
The outfit also recorded profit before tax of £1.1 billion and profit per equity partner (PEP) figure of £2 million.
Legacy figures aren’t directly comparable due to the merger, but in the financial year before the tie-up with Shearman & Sterling, Legal Cheek reported that profit per equity partner (PEP) at Allen & Overy rose from £1.8 million to £2.2 million, following a 17.2% increase in pre-tax profits to £1.05 billion.
Global managing partner Hervé Ekué said:
“In our first year as a merged firm, we have delivered strong results while making important investments in our business, including reshaping the firm to ensure we are optimally positioned to meet client needs.”
Meanwhile, Travers Smith has announced turnover of £210 million for the year ending 30 June 2025, slightly down on last year but up 6% over two years. Profit came in at £74.1 million, while PEP edged up 5% to £1.3 million. Revenue per lawyer was also up 6%.
Managing partner Edmund Reed commented:
“These results demonstrate the resilience and underlying strength of our core business, even in a year marked by continued market volatility. Our focus on prioritising more profitable revenue in our strategic areas — transactions, disputes and investigations, and complex advisory mandates — has continued to contribute strongly to the firm’s progress in growing both RPL and PEP.”