Legal leader Dickinson Dees cemented strong sales in its final year ahead of its merger with Bond Pearce to raise turnover by 3% to £47.3m.
The Newcastle business was rebranded Bond Dickinson from May of last year as the result of the region’s most high-profile merger of the year, with South West-based Bond Pearce.
The deal created a powerhouse legal business with offices the length and breadth of the UK, with combined sales for the legacy firms topping a combined £98m, solid growth that the merged firm said would place it at number 35 of the top 100 UK law firms.
Now final accounts for Dickinson Dees has shown revenues rose from £45.8m in 2012 to £47.3m in 2013, although operating profits fell slightly, from £12.1m to £12m.
Profits for the year were also knocked by an exceptional cost of £728,000, attributable to the firm’s merger with Bond Pearce, in legal, professional and restructuring costs.
Despite the merger costs, Bond Dickson managing partner Jonathan Blair said the financial results revealed solid growth for the firm in challenging economic conditions, while also providing a strong base for the newly-formed firm.
Blair said: “We were very pleased with the growth achieved by Dickinson Dees in its final year trading as a separate firm. It provided a strong platform for our first year as Bond Dickinson where we have already been successful in gaining more opportunities to work with existing clients along with a number of new clients wins.
“Following our merger last year, we now have a truly national presence but we also remain firmly committed to the North East and our clients and partners in the region.
“We are now focusing on our ambitions for the future, looking to grow further with our clients with the extra capability and expertise we can provide as an integrated firm. Our sector-focused strategy keeps us closely aligned with the businesses and organisations we work with, helping them to anticipate what support they need from their legal advisers.”
The amount due to the LLP member with the largest entitlement to profit last year went up, from £274,000 in 2012 to £300,000 and the number of LLP members fell from 64 to 60.
The accounts also show the LLP made charitable donations of £25,000 over the course of the year to its chosen charity the NSPCC and a number of other organisations.