Insurance business sale reduces Hill Dicks revenue 7% as shrinking partnership boosts profit

Profit and profit per equity partner (PEP) increased at shipping specialists Hill Dickinson last year but revenue dived following the sale of its insurance business to Keoghs.

PEP was up 26% to £370,000 from £294,000 last year, as distributable profits likewise grew 7%, from £15.7m to £16.8m. Turnover, however, saw a contraction of 7% from £96.8m to £90.4m.

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