Mishcon breaks £100m profit barrier, caps decade of threefold growth

Mishcon de Reya has clocked revenue of £330 million for FY25, up 9% on last year, with profits rising 14% to £110 million - breaking the £100 million mark for the first time.

The firm, which no longer discloses PEP, also added 16 partners during the year.

The results mark a slowdown from last year’s 17% revenue surge, but are in line with the 10% recorded the year before - and comparable to the single-digit increases seen elsewhere across the board in the City this year.

It marks the conclusion of a 10-year strategy that has seen Mishcon treble in size through a merger with tech-focused firm Taylor Vinters in 2023 as well as sustained international expansion and practice area diversification.

Bigger picture

Mishcon highlighted a string of high-profile disputes wins, including a £237 million payout in the landmark London Capital & Finance fraud case and a victory for O2 in a £1 billion collusion claim.

On the corporate side, it advised self-driving tech company Wayve on its $1.05 billion Series C fundraise led by SoftBank - in what the firm called the largest known investment in a European AI company to date.

Mishcon also said its in-house AI tool deReyAI has been used 355,000 times since its launch. Moving into the current financial year, it announced the firmwide roll-out of Stockholm-based legal AI platform Legora in July.

What they said

Managing partner James Libson said: "I’m incredibly proud of what we’ve achieved this year. 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.

"As we close out our ten-year strategy, we have created a strong platform for the future, and I am exceptionally excited about the opportunities ahead and the quality and commitment of our people."