LLP accounts show City elite firms Travers Smith and Mishcon de Reya both saw double digit turnover growth in 2016. While Travers lifted its top paid member to £1.5m, Mishcon’s highest paid dipped slightly.
For Travers, revenues jumped from £105.2m to £120.3m over the year to 30 June 2016, accounting for a 14% increase. As a result of another year of double-digit growth, operating profit at the firm also grew 12% from £52.4m to £58.5m. The highest paid member at Travers bagged £1.5m in 2016, increasingly slightly from last year’s figure of £1.3m. This figure in LLP accounts does not necessarily equate to the highest paid equity partner and can relate to ‘golden handshakes’ to retiring members.
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