Beachcroft sees revenue climb; Dickie Dees reports fall

Beachcroft and Dickinson Dees have posted financial results for the 2008-09 year, with Beachcroft seeing revenues climb.

The national firm has posted a 6% increase in revenues, taking turnover through the £120m mark.

Beachcroft’s turnover for the last financial year stood at £121m compared with £114m the previous year.

However, profits per equity partner (PEP) have dipped by almost 3% - falling from £310,000 last year to £301,000. The firm also reported a 3% drop in PEP during 2007-08.

Paul Murray, managing partner, said: "We are pleased with the general growth in the business this year although profit per member is down by about 3% before exceptional items.  In part this is due, of course, to the economic conditions in which our clients are operating and their increased emphasis on reducing legal costs.”

Murray said other factors contributing to the PEP drop include office openings and new hires, as well as the fact some of the firm’s work, such as bulk employment tribunal cases, attract lower rates.

Newcastle’s Dickinson Dees, meanwhile, has reported a slight drop in revenues, with like-for-like turnover falling by under 2% during 2008-09 to £51.4m, down from £52.4m in 2007-08.

Last year the firm’s full turnover stood at £60m, however this included around £8m in revenues from volume business d3, which was sold in November 2008.

Dickinson Dees has yet to finalise PEP however during 2007-08 the figure fell by 16% to £315,000.

The national firm’s results follow a series of cost-cutting measures.

Earlier this year it launched a redundancy consultation putting 90 jobs at risk, including 15 lawyers. The consultation resulted in 72 redundancies of which two-thirds were voluntary.