Mishcon de Reya has revealed its financial results for 2024-25, with topline turnover up 9%, from £302m last year to £330m.
Meanwhile, the firm increased its profit by 14%, crossing the £100m marker for the first time with profit of £110m, up from £97m last year. Mishcon has not reported profit per equity partner (PEP) since 2023, when it described the metric as ‘narrow, short term and misleading’.
The results mean the firm has almost tripled its revenue over the last decade, growing 183% from £116.7m in 2014-15.
‘I’m incredibly proud of what we’ve achieved this year,’ said managing partner James Libson in a statement. ‘We grew again by all measures – size, revenue and profitability – and undertook a breadth of work that was truly unique and impressive, from advising on Europe’s largest AI investment to winning major awards for our disputes practice and leading landmark cases across our departments.’
Notable mandates in the last year include the firm’s ongoing success acting for the Federal Republic of Nigeria in its bid to set aside an $11bn arbitral award issued against it and in subsequent appeals, as well as its successful representation of the joint administrators of London Capital & Finance and London Oil & Gas Limited in a £237m investment fraud claim.
On the transactional side, the firm advised self-driving car startup Wayve on its $1.05bn series C funding round, and payments fintech Sokin on Morgan Stanley Expansion Capital’s multimillion-dollar acquisition of a stake in Sokin.
Disputes boutique Signature Litigation has also released its financial results, with revenue up nearly 21% to £39.4m.
Meanwhile, the firm’s annual profit share, paid to all firm members under Signature’s co-operative model, rose to 17.7% from 16.6% last year.
CEO Kevin Munslow said in a statement: ‘We remain steadfast in our approach to building a business that continuously delivers on the aspirations of our members, sharing successes with all colleagues without discretion or variation.’
Founding partner Graham Huntley added: ‘We can only be proud that we have a co-operative system that continues to deliver our goals and economic benefits for everyone, without exception or discretion. It is particularly rewarding to see this generating growth and increased profitability across all of our offices.’
Signature’s London, Paris, and Gibraltar offices all posted double-digit growth, while the Frankfurt office, launched in July 2024, posted a profit within its first nine months.
Notable moves for the firm in recent months include its launch of a white-collar crime and investigations practice in London with its July hires of partners Mark Beardsworth and Duncan Grieve from Goodwin and Cadwalader respectively.
