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Hill Dickinson Posts Four-Year Low Figures for 2014/2015

Hill Dickinson Posts Four-Year Low Figures for 2014/2015

Hill Dickinson has submitted its lowest figures in four years for the financial year 2014/2015. Total revenue has fallen by 6.4%, from £111.6m to £104.4m, which is the lowest reported since 2010/2011 where turnover was £100m. Over recent years, revenue at the firm has remained rather stagnant with the from posting a revenue of £110m and £112.8m in 2011/12 and 2012/13 respectively.
The fall in profit per equity partner by 4% from £272,000 to £261,000 reflects the 9.6% decrease in net profit. The top-40 firm reported a net profit of £17.1m in 2013/14 compared to £15.5m in this year.
Despite these tumbling figures, revenue per lawyer has increased to a four year high of £243,000. This is due to a drop from 484 to 429 lawyers working at the firm since 2013. The firm has made a number of redundancies over the past years, which has included two redundancy rounds during the past year, the most recent being in May. In September 2014, Hill let go of 40 people from its counterfraud team, affecting 26 fee-earners. Again in May of this year, the firm announced 30 jobs would be at risk across the London, Liverpool and Manchester offices.

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