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Hill Dickinson has reported a 10 per cent rise in turnover for 2011-12, in the first full year of trading following its acquisition of Halliwell’s Liverpool and Sheffield offices.
Turnover at the firm was £110.1m, up from £100.1m the previous year. The 2010-11 figure was up almost 15 per cent on the year before and was the first time that the firm had broken the £100m barrier. Net profit at the firm was 14.4m in 2010-11, up 7 per cent on 2009-10, while average profit per equity partner was £272,000.
According to Hill Dickinson, the firm’s Singapore office grew the most in terms of revenue in 2011-12, up from £1.14m to £1.9m. In terms of sectors, marine grew the most, up 9.8 per cent to £24.9m, while insurance was up 12.8 per cent to £40m.
Business services turnover increased 9.9 per cent to £36.5m while health-related billing increased by 10.6 per cent to £8.5m. In 2011 the firm was forced to cut two fee-earners and five secretaries in its health team, blaming government spending cuts (3 October 2011).
In a statement, managing partner Peter Jackson said: “It’s immensely gratifying to see that we’ve achieved significant growth across every area of the firm, both geographically and in terms of our business offer.
“The firm continues to buck the trend against a challenging economic backdrop and that is testament to the calibre of our teams and our robust growth strategy. Our corporate and commercial work has been a key area of success for the firm and is an area we’ll continue to drive forward.
“Looking ahead, one of our main objectives for the following year is to strengthen our presence in London and we’re now embarking on a search for a new office in the city.”