Mills & Reeve’s revenues increase by 7 per cent

Mills & Reeve has reported a 7 per cent revenue hike for the last financial year.

Guy Hinchley

Guy Hinchley

The firm grew revenue from £62.5m during the 2007-08 financial year up to £66.6m last year. Average profits per equity partner (PEP) saw a 2 per cent rise from £295,000 up to £301,000 last year.

Mills & Reeve managing partner Guy Hinchley said: “We’ve benefited from having a more unusual practice area mix that combines a private client and corporate client base.

“We’ve been able to avoid the level of exposure to the market conditions that other firms have been subjected to.”

Hinchley added that the firm’s client base in the healthcare and education sectors made a significant contribution to the total revenue figure after the firm advised on a number of property related deals.

The firm aims to continue to build up its professional indemnity, insurance and reinsurance teams over the coming year.

Hinchley said: “We’ve been building up in Manchester, Leeds and London in this area. It’s been quite a busy area for us and I expect there to be an increase in claims over the coming year.”