In its first full financial year since its May 2013 merger, Bond Dickinson has surpassed the £100m mark with a 7% growth rate and a revenue figure of £106.4m for the financial year 2014/15.
The firm, which generated £99.6m in 2013/14, also said that profits had risen around 20% though did not specify the measure. Last year the firm recorded a net income of £15.8m. The best performing sector for the firm was transport which saw growth of 20% and includes clients such as Network Rail while the commercial disputes team generated 25% more revenue than 2013/14.
Speaking to Legal Business, the firm’s managing partner Jonathan Blair said the result was a clear indication of the ongoing success of the union of Newcastle based Dickinson Dees and Bristol headquartered Bond Pearce.
‘The merger has worked. We had two strong businesses we have put together and have created a new, better business. Alongside that we had two great brands which have created an even better brand and the people that we have got in the business have really bought into the vision that we have created.’
Blair added: ‘Everybody is working well together and when you get that you get the successful business. Reaching over £100m in top-line revenue is a good psychological barrier to get over as well. Obviously the market is more buoyant, so I am not discounting that. I’m not going to pretend that isn’t a factor. But of course you have got to be well placed, have a clear set of goals and a clear brand position in the market.’
The last year has been a positive one for Bond Dickinson, which entered into its first strategic alliance with German firm Redeker Sellner Dahs in December 2014 as part of a growing international strategy and increased its London office headcount by 50%. The firm has also enlarged its partnership by over 20 partners post-merger through a mixture of internal promotions and strategic lateral hires.