Insurance sale prompts Hill Dickinson fightback in promising H1 results

Hill Dickinson has posted a solid return to form in its half year results for 2018/19, generating £43.6m in turnover which was roughly 5.3 per cent over its £41.4m budget.

The firm’s sale of its non-marine insurance business cast a large shadow last year, causing whole year revenues to dip below the £100m mark, though it was confident that refocusing its business would yield positive results.

Hill Dickinson CEO Peter Jackson praised the firm’s staff, while thanking clients for their support.

He said: “Our strategic objective is to grow a sustainable and profitable business, partnering with clients to provide commercial solutions in their specialist markets. The past 12 months have allowed us to concentrate on building upon our core strengths, the business, health and marine sectors, and we are now seeing the benefits of this focus.

“We are seeing progress against our strategic priorities, even against the backdrop of uncertain market conditions. Strong growth in a number of areas including health in Leeds and London, corporate work in London and our global trade and commodities practices’ and notable client wins show the resilience of the firm.”

The firm’s health-focused office in Leeds opened in late 2017 and was thought to have played a key role in the firm securing a place on the £100m NHS Shared Business Services panel in early October.

It also retained its spot on the reviewed Co-op panel, taking a place alongside six other firms on the restructured arrangement.

Firms have been slow to reveal their half-year results for 2018/19, with Fieldfisher the first off the blocks last week. There are early indications that it is on course for another year of double-digit revenue growth, with its turnover for the 2018/19 half-year recording a 26 per cent increase in half-year financials to £97m. 

The post Insurance sale prompts Hill Dickinson fightback in promising H1 results appeared first on The Lawyer | Legal insight, benchmarking data and jobs.