Hill Dickinson suffers dip in turnover with rise in PEP
Hill Dickinson has posted its latest financials with downward dips in both turnover and profit, though with a rise in profit per equity partner (PEP).
The firm’s turnover fell by 4.8% from £101.7m to £96.8m. Its profit dipped by a less significant margin of 1.9% from £16m to £15.7m. Nonetheless, due to the acquisition of Hill Dickinson’s non-marine insurance practice by Keoghs in which 17 partners exited, the PEP rose by 7.3% from £274,000 to £294,000.
Hill Dickinson CEO Peter Jackson commented optimistically that the deal with Keoghs cleared the way for the firm to move in the direction of improvement.