DSW profits increase due to IPO ‘halo’ effect
Professional services licence provider DSW has posted a 25 per cent increase in profits as a result of its recent IPO’s “halo” effect.
In the year ended 31 March, the group reported an adjusted pre-tax profit of £2m, while its network revenue went up by 19.6 per cent, from £15.3m to £18.3m.
Free earners at the end of the year, DSW said, went up 88 per cent, gaining on average £227,000 – up 15.8 per cent on last year’s £196,000 per person.
“DSW has a successful and profitable model, a strong balance sheet and an excellent capital base from which to scale the business,” said chief executive James Dow.
“In a sector which is ripe with opportunity, we have every confidence in the future prospects for the group.”
DSW floated on the AIM market index on 16 December.
Despite boosting the firm’s growth plans, the IPO has also lead to a loss before tax of £300,000 this year.