Mills & Reeve has enjoyed another stellar year with turnover rising to a record £106.3 million – an increase of 14% on last year.
As a result of the strong financial performance the firm, which has an office in Birmingham, has announced the largest ever all staff bonus pool of £2 million, equivalent to 7% of the firm’s salary bill. This equates to a bonus of £2,273 for every full time employee who has been with the firm for at least a year.
Mills & Reeve outperformed the top 100 UK law firm average with fee income growth of 13.5% compared to the average of 7.7%*. The results benefited from the successful merger with London law firm Maxwell Winward in June 2017, which accounted for 41% of the turnover growth.
Claire Clarke, Mills & Reeve managing partner, commented: “We are delighted by this strong financial performance which was achieved through the hard work of our people in delivering the expertise, service and results that our clients demand. One of the key objectives of our 2020 strategy was to achieve £100 million turnover and the fact that we have realised it two years early is testament to the success of our collaborative culture. Everyone at Mills & Reeve contributes to the firm’s success and therefore it is only right that our people get to share in this with the largest ever all staff bonus.”
