Staff at national firm Mills & Reeve will share a bonus pool of £2.4m following a ‘strong financial performance’ and record revenues last year.

Anyone working full-time for the whole financial year received £2,231 and the bonus for those with five years’ service or more was £2,566 after the all-staff bonus increased from £2.2m last year, the firm said.

Mills & Reeve, which opened its seventh office in Oxford earlier this year, also saw turnover increase by 5.5% to £131.2m while average profit per equity partner was reportedly up from £448,000 to £470,000.

Senior partner Justin Ripman said: ‘It is an important part of our culture that everyone shares in the financial success of the firm and our all-staff bonus is a great example of this. We recognise the importance of the bonus and the way in which we calculate and allocate it differentiates us from many other firms.

‘On behalf of every partner in the business, I am extremely grateful for the role that everyone has played in winning work, being a leader in client experience and pulling together to support each other and push the business forward. Being able to pay a bonus reflecting the great performance of the firm is really pleasing.’

A number of other firms have recently announced they are providing bonuses to staff to help with the increase in the cost of living, most recently Withers and Freeths which joined firms including Shoosmiths, Clifford Chance, Bird & Bird, Osborne Clarke and Irwin Mitchell.