Hill Dickinson has become the latest commercial firm to post a bumper trading surplus following a fourth consecutive year of growth.

The Liverpool-headquartered practice recorded profit before member remuneration of £45.9m in the year to 30 April 2022, a 29% rise on the previous 12 months (£34.9m). Turnover climbed 15% from £104.8m to £119.8m, accounts filed at Companies House show.

The firm also boosted its cash pile, from £21.6m in 2021 to £27.5m at 30 April last year.

Hill Dickinson, which employs 950, has six offices in the UK. These include an office in Newcastle established last year to focus on the health sector. The firm has four overseas offices; in Singapore, Monaco, Hong Kong and Piraeus.

Hill Dickinson

Hill Dickinson

Hill Dickinson’s offices

In its strategic report for the year, the firm said 2021/22 had ‘exceeded expectations’. The business services group had a record year, with ‘strong transactional activity’ delivering growth of 12%. The corporate and banking teams worked on 120 transactions with an aggregate deal value of £3.8bn, including the £577m  IPO of Big Technologies PLC.

Real estate, litigation, construction and health also grew ‘significantly’. Turnover in the marine business grew 5%, with Piraeus turning in ‘particularly impressive results’.

In Asia, however, the Singapore and Hong Kong offices performed ’less well’, with activity still below pre-Covid levels. The firm said the political climate in Hong Kong had proved challenging, but the main factor inhibiting growth was closed borders and quarantine requirements. Singapore suffered from lockdown and a travel ban, together with key staff departures, but is now on a ’positive trajectory’. 

The highest-paid of Hill Dickinson LLP’s 121 members drew £1,026,000, a 55% rise on 2021. 

 

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