Hill Dickinson profits hit by PI work slump

Hill Dickinson has suffered a disappointing financial year, with turnover rising by only 2 per cent and profits per partner decreasing by 3 per cent.

According to last year's The Lawyer 100 survey, the North West commercial law firm billed a total of £23m in 1999/2000. In 2000/2001 turnover has crept up to just £23.5m.
Average profits per partner have fallen from £190,000 in 1999/2000 to £185,000 in 2000/2001. However, in 1999/2000 the firm had 39 partners and in 2000/2001 this number went up slightly to 42. This could be one reason for the drop in the firm's average profits per partner.
Managing partner David Wareing blames the drop in personal injury litigation work that is affecting commercial law firms across the North West.
Wareing insists that he is not disappointed with the firm's drop in average profits per partner. “Our average profits are good in the current climate,” he said. “Because of the downturn in the insurance market we knew it was going to be a difficult year.”