Magic circle firm Allen & Overy has announced a healthy set of results for the year ended 30 April 2019.

Pre-tax profit is up 8% at the magic circle firm to £708m and revenue has grown by 5% to £1.63bn.

Profit per equity partner grew by just 1%, however, to £1.66m and the firm referred to an ‘uncertain geopolitical environment’ in its announcement.

Global managing partner Andrew Ballheimer said: Our lawyers around the world are helping clients face the combined challenges of increased regulation, disruption and the need for innovation.

‘As we move forward in a volatile market, our focus remains on leading the industry in evolving new ways of supporting our clients and introducing cutting edge technologies, alongside building the culture of A&O to enable all our people to achieve their best.’