A surprising part of the A&O results is that the firm was on a 7.5 per cent trajectory at the six month stage. Average profit per partner for the full year is, however, up seven per cent at £1.12m. The results are the start of the annual reporting season with Clifford Chance having been the first to report, having had a 14 per cent rise in profit figures and a recovery on last years PEP figures, which jumped by 16 per cent to £1.14 m, having been the lowest of the magic circle law firms last year. Clifford Chance has cut its number of equity partners by ten partners whilst A&O added two partners to its equity, rising from 444 this year. A&O's managing partner Wim Dejonghe said the firm had focused on steady growth, better cost management and more productivity from lawyers. Source: The Lawyer ; The Financial Times
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