Mishcon de Reya Reports 17% revenue increase with £90m profits for 2023/24

This marks a 17% increase from the previous year and represents a doubling of revenues since 2017. The firm also recorded profits of £90 million, slightly down from £93 million in the previous year.

Key Highlights:

• Revenue Growth: The firm's revenue increased by 17% year-on-year, maintaining a decade-long trend of double-digit growth.
• Profitability: Despite a slight dip from the previous year, the firm reported substantial profits of £90 million.
• Litigation Success: Mishcon de Reya was involved in three of the Lawyer’s Top 20 Cases of 2024 and won awards for Litigation Team of the Year and Competition & Regulatory Team of the Year.
• Integration and Expansion: The integration of Taylor Vinters has been successfully completed, contributing to the firm's growth and performance.

Strong Performance Across Practices:

• Employment, Dispute Resolution, and Private Practices: These areas saw significant revenue growth and profitability.
• Innovation Practice: Benefited from the full year's contribution from the merger with Taylor Vinters in January 2023.
• Corporate and Real Estate: Continued strong performance despite broader economic challenges.

Promotions and Growth:

• Promotions: The firm promoted 15 individuals to junior partner or equity partner, 11 to Of Counsel, and 35 to Managing Associate.
• Acquisitions: The firm completed the acquisitions of Flex Legal and Somos, further expanding its capabilities.

Leadership Comments:

Matthew Tilley, Group Chief Financial Officer, expressed satisfaction with the firm's performance and growth trajectory, emphasizing Mishcon's unique combination of capabilities and culture.

James Libson, Managing Partner, highlighted the successful integration of Taylor Vinters and praised the exceptional contributions of the firm's people. He also noted the completion of the firm's 10 Year Vision and hinted at the forthcoming strategic phase.

Conclusion:

Mishcon de Reya's robust financial performance and strategic expansions underscore its position as a leading law firm in the UK. The firm's consistent revenue growth, successful integrations, and recognition in high-profile litigation cases reflect its strong market presence and ongoing commitment to excellence.