Hill Dickinson half-year revenues up by 6% after cash call
Hill Dickinson has reported a 6% rise in revenues for the first half of the 2013-14 financial year. The firm's revenues grew from £51.9m to £54.9m in the six months leading to the end of October.
November 19, 2013 at 05:31 AM
2 minute read
Hill Dickinson has reported a 6% rise in revenues for the first half of the 2013-14 financial year.
The firm's revenues grew from £51.9m to £54.9m in the six months leading to the end of October.
The figures come after the firm's partnership voted in favour of a £2.8m capital call earlier in the summer following a period of investment that saw the firm move into new City offices at Broadgate Tower, launch in Monaco, the February purchase of a 30-strong defendant insurance team from DLA Piper and £2m-plus investment in a new IT system.
Costs were also incurred as a result of a restructuring that led to around 83 redundancies being made at the firm, with 14 partners and 69 staff affected by the cuts.
As part of a strategic review the firm sold its four-partner Chester office to Knights Solicitors, which went live at the start of last month.
The firm additionally opened an office in Hong Kong in October, through an association with local litigation firm Laracy & Co.
Managing partner Peter Jackson (pictured) said: "The last six months have seen a significant re-alignment of the business to ensure our continued success in a market which, despite signs of improvement, continues to provide challenges.
"It is really pleasing to see that this is clearly resulting in growth which allows us to continue to invest in the firm for its future success."
The firm posted revenues of £112.8m at the 2013 financial year end, marking a 2.5% increase from the previous year's figure of £110.1m.
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