We're pleased to announce a record turnover of £206.9 million for the 2025/26 financial year, an increase of 13.9% and the first time we've exceeded the £200 million mark.
We also announced an employee profit share pool of more than £3.25 million, meaning most employees will receive an award of at least £2,300. The employee profit share award directly links to the firm's financial performance and forms part of our long-standing commitment to ensuring its people share in the success they help create.
The firm's latest results were delivered against a backdrop of continued economic uncertainty and geopolitical disruption. Despite these challenges, we continued to push ahead with our ambitious 2030 strategy, including growing international work through the M&R Global network to 30% of total revenue, building out a completely new C-suite, and continuing our Fearless Feedback client listening programme, which has now interviewed more than 5,000 clients to gain vital insights to help build long term relationships.
Another key contributing factor to growth was the stream of high-quality laterals and promotions, with 19 new partners in the last 12 months. As well as eight internal promotions, there were 11 lateral hires. Laterals arrived from a variety of top UK firms and bolstered a wide range of sectors and offices.
Importantly, we continued to invest in people, technology and operational capabilities. This includes AI and other technology initiatives which are already helping people work more efficiently, collaborate more effectively, and deliver even greater value for clients.
Alongside the employee profit share award, we've significantly increased investment in discretionary performance-related bonuses across the business, reflecting the firm's continued focus on recognising exceptional contribution and high performance.
Claire Clarke, managing partner at Mills & Reeve, said: "These results demonstrate the strength of our strategy, the quality of our people and the trust our clients continue to place in us. Growing turnover by more than 11% in what remains a challenging economic environment is a significant achievement. We have continued to invest in the future of the firm while maintaining strong financial discipline and delivering outstanding service for our clients.
“One of the things that makes Mills & Reeve special is our belief that success should be shared. I'm particularly pleased that we’re able to award more than £3.25 million through our employee profit share this year, helping make sure colleagues across the business benefit directly from the firm's performance.
“Looking ahead, we’re continuing to focus on delivering our 2030 strategy through our client experience, investment in our people, technology and market-leading sector expertise, while maintaining the culture and collaborative approach that continue to differentiate us.”
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