PARTNERS at Liverpool-based Hill Dickinson received a slightly lower profit share, despite the firm increasing its fee income by 12%.
The firm, which is this year celebrating its 200th anniversary, saw its turnover reach £82.4m.
Its accounts just filed at Companies House, for the year to April, 2009, show that profit before members’ remuneration and profit shares was fractionally higher than last year, at £20.7m.
However, its average profits per full sharing member was down £18,000 to £294,000 – a figure that is also slightly distorted by the increase in the highest individual profit share rising from £401,000 to £622,000.
The firm has 54 full equity members and more than 1,000 staff.
Hill Dickinson can trace its history back to 1810 when Edward Morrall founded a legal practice in Liverpool. It grew before becoming known as Hill Dickinson & Company exactly 100 years later.
A London office was opened in 1929 and then it expanded in the North-West, in Chester and Manchester, in 1997. More recently it has opened overseas offices, in Piraeus, Greece, in 2006, and Singapore, in March, 2009.
Last July, Hill Dickinson merged with London commodities specialist Middleton Potts, which is expected to add £3.5m to the firm’s turnover.
Its members’ report said: “The financial results are considered satisfactory against the background of the difficult economic climate in the UK and overseas.
“We continue to develop all of our practice areas and in particular made significant strategic investments to further expand the quality and range of services provided to our clients.
“This programme of investment has included a number of lateral hires, the opening of an office in Singapore, a merger with Middleton Potts, and our first full year of trading from our new St Paul’s Square headquarters.
“We are ambitious for the future and constantly review opportunities for further improvement and growth.”
Hill Dickinson’s Liverpool office is rated by The Legal 500 as being a first-tier firm for commercial property, and a second-tier firm for corporate and commercial, and commercial litigation.
Last month, managing partner Peter Jackson was recognised in The Lawyer’s Top 100 within the management category.
He was the only managing partner named who is based in the North-West.
