Hill Dickinson has filed its first set of LLP accounts – its final accounts prior to the merger with Hill Taylor Dickinson – which reveal a 9 per cent increase in turnover.
Hill Dickinson, which converted to LLP status in November 2005, posted a turnover of £50.2m for the year ended 30 April 2006, up from the previous year’s turnover of £46m.
Hill Dickinson director of finance Colin Wardale told The Lawyer: “The increase in turnover reflects the growth of the firm in all key areas, but particularly in the insurance and the commercial property practices during the year.
“Some of the growth is due to the result of the 2004 merger with Bullivant Jones. The impact of the merger with Hill Dickinson Taylor will only really come through next year.”
The LLP accounts show that the profit available for distribution among the firm’s partners was £6.6m. This equates to an average profit of £215,960 per partner and £261,160 per full equity partner.
During that period there was an average number of 43 full equity members and nine fixed-share equity members.
The firm owed £10m, including £705,910 in bank loans and overdrafts and £144,540 to former members.