Allen & Overy grew its top line by 5% to hit £1.627 billion ($2 billion) for the 2018-19 financial year, meaning three of the Magic Circle firms' revenues are now almost identical.

A&O added £75 million ($94 million) to its revenues in spite of what managing partner Andrew Ballheimer called "an uncertain geopolitical environment". Profits before tax increased by 8% to £708 million ($887 million).

The results put A&O's revenues on a par with fellow Magic Circle firm Clifford Chance, which reported turnover of £1.69 billion ($2.1 billion), and Linklaters, which recorded revenues of £1.63 billion ($2 billion). Freshfields' turnover is slightly lower, at £1.47 billion ($1.8 billion).