Mills & Reeve has achieved record-breaking turnover of £87.2m during the 2015/16 financial year, after revenue increased 6.9 per cent from £81.6m.
The increase is considerably larger than during the previous financial year when turnover grew 2.6 per cent from £79.5m.
As a result of the strong performance the firm announced it would be issuing its largest ever all staff bonus pool of £1.28m, which is the equivalent of 5.2 per cent of its salary bill.
Managing partner Claire Clarke said: “We’re delighted by this strong financial performance which was achieved through growing demand for our services over the last 12 months. It’s also a great tick in the box in terms of our 2020 firm strategy with one of our key objectives to grow faster than the top 100 average.”
Clarke added she believed that Mills & Reeve could continue to grow despite the uncertainty created by the UK’s recent decision to leave the EU and that the firm would continue with its current strategy to focus on its “core markets and sectors”. She said Mills & Reeve was in the process of discussing with its clients how Brexit would impact their businesses and overseas investors.
Mills & Reeve recently came out as the biggest winner on Nottingham Trent University’s latest panel review after the firm won nine seats on the £2.3m framework. The firm was selected to advise the university across a number of areas including regulatory, estate management, trademark work and commercial law.