Bond Dickinson set to break into UK top 50 following 2013 merger
Bond Dickinson has posted revenue of £99.1m for 2013-14 in the firm's first set of financial results after legacy firms Bond Pearce and Dickinson Dees combined last year.
August 04, 2014 at 07:03 AM
2 minute read
Bond Dickinson has posted revenue of £99.1m for 2013-14 in the firm's first set of financial results after legacy firms Bond Pearce and Dickinson Dees combined last year.
The pair merged at the start of May 2013 to create Bond Dickinson. During 2012-13 Bond Pearce logged revenue of £50.3m, while Dickinson Dees' top line reached £48m.
However profits per equity partner (PEP) in 2013-14 at the new firm are lower than last year's unaudited equivalents at either legacy outfit.
PEP for the year was £225,000, down 16% on Bond Pearce's 2012-13 PEP of £268,000 in down 6.3% on Dickinson Dee's figure of £240,000.
The firm logged net profit of £15.8m for 2013-14. The top of the equity was £339,000, while the bottom was £168,000. The average number of full-time equivalent (FTE) equity partners throug the year was 69.2.
The combined firm's disputes practice contributed 32% of total revenue, while corporate brought in 27% and finance accounted for 14%.
Last year Bond Dickinson adopted a two-tier partnership structure, with the merged firm now operating a full equity and junior equity rank with a modified lockstep.
In December the firm concluded a post-merger redundancy consultation that anticipated around 5% of support staff roles would be made redundant, equivalent to fewer than 25 employees.
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