DWF, Manchester law firm, sees revenue top £272m

Manchester-headquartered international law firm DWF on Wednesday announced its full year results for the year ended April 30, 2019, following the company’s IPO in March 2019.

DWF said net revenue rose 15% to £272.4 million and adjusted profit before tax rose 13% to £26.1 million.

Revenue per partner accelerated 9% to about £857,600.

DWF CEO Andrew Leaitherland said: “These results mark the end of a milestone year for DWF, in which we became the largest listed full service legal business on the London Stock Exchange.

“I am pleased to report another strong period of revenue and profit growth for our maiden results post IPO, driven by an uplift across all four divisions, with International and Connected Services the standout performers.

“The group delivered 15% growth – 12.5% of which was on an underlying organic basis – emphasising the strength of our unique business model.

“We have made significant progress against strategy, taking meaningful strides towards our medium-term targets, and expect our diversified and differentiated business model to continue driving long-term sustainable growth.

“We are committed to recruiting and retaining leading industry talent which is underpinning our broadened service offering and revenue growth.

“Following a period of reduced M&A activity due to preparation for the IPO, we are maintaining discipline in identifying value-add acquisitions and associations to add scale, build on our sector expertise and develop our international presence.”

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