Mishcon de Reya – UK 100

Turnover: £23.6m

Profit per equity partner: £232,000

Equity spread: £60,000-£360,000

Net profit: £6.2m

Profit margin: 26 per cent

Salaried partner remuneration: £115,000

Revenue per lawyer: £225,000

Revenue per partner: £590,000

Revenue per equity partner: £1,026,000

Cost per lawyer: £166,000

Profit per lawyer: £59,000

No of partners: 40

No of equity partners: 23

No of female partners: 11

No of female equity partners: Four

Total no of fee-earners (including consultants, paralegals etc): 136

Total no of fee-earners (excluding consultants, paralegals etc): 105

Total no of staff: 231

Leverage ratio: 1:2.83

Equity partner to staff ratio: 1:4.13

Fee-earner to staff ratio: 1:0.7

Financial management: Exceptional costs for the current financial year include a £1.5m investment in IT, although 70 per cent of that amount will be amortised over eight years and the balance over three. The firm has an overdraft facility of £1.5m, although it tends to dip into this only occasionally, notably when salary and tax payments merge, such as happened in January.

Equity structure: The firm operates a meritocracy. As reported in The Lawyer (5 April 2004), Mishcon de Reya restructured its equity significantly at the start of the current fiscal year and now has 18 equity partners (the 23 figure is pre-restructuring).

Billable hours targets: 1,500 assistants, 1,100 partners.

Key clients: Microsoft, Topland, BetonSports, Euromoney, Helical Bar, ICC Cricket World Cup West Indies 2007, Pentland Group, Winston Group.