Irwin Mitchell, Hill Dicks and Trowers reveal 2010-11 financial results
Irwin Mitchell, Hill Dickinson and Trowers & Hamlins have all confirmed their 2010-11 financial results, with Trowers posting drops in both revenues and profits. Hill Dickinson posted the best results of the three, with revenue rising 14.9% over the year from £87.1m to £100.1m, alongside a 8.8% hike in profits per equity partner (PEP), up from £250,000 to £272,000.
July 19, 2011 at 11:20 AM
2 minute read
Irwin Mitchell, Hill Dickinson and Trowers & Hamlins have all confirmed their 2010-11 financial results, with Trowers posting drops in both revenues and profits.
Hill Dickinson posted the best results of the three, with revenue rising 14.9% over the year from £87.1m to £100.1m, alongside a 8.8% hike in profits per equity partner (PEP), up from £250,000 to £272,000.
During the same period Irwin Mitchell saw a 9.4% increase in turnover and a 5.4% drop in PEP. Revenue at the national firm increased from £157.2m to £171.8m, while PEP fell from £540,000 to £511,000.
Partner headcount at Irwin Mitchell also grew over the year, with the firm's partnership expanding from 115 partners at the end of the 2009-10 financial year to 134.
The results mark an improvement on 2009-10 for both firms. Last year Hill Dickinson saw revenue rise 6.2% alongside a 15% fall in PEP, while Irwin Mitchell's turnover fell 0.6% on the back of a 12.2% decline in PEP.
Meanwhile, Trowers has announced a 20% drop in PEP, down £112,000 to £441,000, alongside a 12% fall in turnover from £89.4m to £78.6m.
The results reflect a difficult year for the City firm, which confirmed in November that it would be making another round of job cuts in London and Manchester after turnover fell behind budget for the first half of the financial year.
The firm said it was reviewing five fee earner roles and two staff jobs in Manchester as well as four fee earner roles in London, after also reviewing three or four UK positions in August.
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