Turnover rose 5.5% at Medilink Midlands Patron organisation, Mills and Reeve LLP, reaching £131.2 million at the leading national law firm, which opened its seventh office earlier this year in Oxford.
Mills & Reeve is a full-service law firm advising global organisations, small and mid-sized companies, universities, research institutes, charities and government organisations. We have a specialist and multi-disciplinary team of lawyers dedicated to the life sciences sector with extensive experience across all sub-sectors, including pharma and biotech, medical devices, diagnostics, digital health and specialist service provision.
As a result of the strong financial performance, the firm announced an all staff bonus pool of £2.4 million, £200,000 more than last year. This meant anyone working full time for the whole financial year received £2,231, while the bonus for those with five years’ service or more was £2,566.
The results follow a year in which the firm has achieved some significant milestones, not least of which included opening an office in Oxford, adding to its existing presence in Birmingham, Cambridge, Leeds, London, Manchester and Norwich. Other highlights of the year included:
- Improved client metrics in all key areas of the latest “Fearless Feedback” client survey – client recommendation and client satisfaction both 91% (+2%), and client loyalty 90% (+5%).
- A first ever ranking in the Thomson Reuters Top 20 UK Law Firm Brand Index.
- A best ever position (18th) in the UK 100 Best Companies to Work for list – featuring for an unparalleled 19 years running.
- A record 13 principal associates being promoted to partner.
- A top four spot for the sixth year running in RollOnFriday’s best law firm awards.
Commenting on the financial performance, Justin Ripman, Mills & Reeve senior partner, said: “It is an important part of our culture that everyone shares in the financial success of the firm and our all staff bonus is a great example of this. We recognise the importance of the bonus and the way in which we calculate and allocate it differentiates us from many other firms.
“On behalf of every partner in the business, I am extremely grateful for the role that everyone has played in winning work, being a leader in client experience and pulling together to support each other and push the business forward. Being able to pay a bonus reflecting the great performance of the firm is really pleasing.”