The numbers show a good performance, driven by the strength of its leading position in the world’s M&A, capital and lending markets and, as a result of the firm’s strategic investment programme, significant growth in the U.S
- Client revenue up by GBP170 million (10%) to GBP1.94 billion (USD2.65bn; EUR 2.28bn)
- Profit before tax up 9% to GBP900 million (USD1.23bn; EUR1.06bn)
- Profit per equity partner (PEP) up 3% to GBP1.95 million (USD2.66m; EUR2.29m)
- Exceptional revenue growth from the U.S. which was responsible for more than 50% of firm revenue growth following continued and significant investment
- Strong performance across the firm’s global network, in particular in the U.S., UK, Europe and the Middle East.
- Increasing work borne from client demand to navigate the energy transition, rise of private capital and technological transformation
- Revenue from Advanced Delivery & Solutions goes from strength to strength, increasing by 14%, largely driven by aosphere, A&O Consulting and Peerpoint
- Continued progress on the firm’s drive to build a more diverse and inclusive firm, including by setting new gender diversity targets
- Increased pro bono hours across the firm and a significant financial and legal advisory response to the invasion of Ukraine
Commenting on the results, global managing partner Gareth Price said: “Last year we demonstrated the power of our international platform to meet the sophisticated needs of our clients in an increasingly complex landscape for global businesses. Our clients are facing major new challenges and we have invested to broaden our capabilities to support them as well as expand our expertise in key markets to maintain our industry-leading local depth connected by global reach. The global economy continues to be impacted by high inflation and the business environment for our services has been softening in recent months. We expect these conditions to persist in the coming months but we remain confident that our diversified business provides resilience and positions us well for the more challenging conditions ahead.”
