“Robust” trading for listed law firm DWF as Canada transaction set to pay off
Listed legal and business services firm DWF has this morning delivered an upbeat full-year update to markets, with 8 per cent revenue growth headlining what CEO Sir Nigel Knowles described as a “robust” performance.
Revenues are expected to sit around £380m on the year when the company produces its audited full-year results.
DWF also said that its cost reduction programme, which was expected to deliver around £10-12m in savings, will now shave £15m from the cost column, with most of the benefits in the 2024 financial year.
Sir Nigel Knowles, Chief Executive Officer, said: “Our performance continues to show how robust a business we are, even in a challenging environment. We have delivered consistently strong revenue growth and underlying organic growth, with the initial benefits of our cost control programme also coming through.”
DWF’s acquisition of Canadian law firm Whitelaw Twining in December 2022 was the firm’s first foray into North America, and legal services began to be offered just two months after the transaction.
Knowles, a well-respected grandee in the legal profession who spent years building up DLA Piper, said “our transaction in Canada has also given us great momentum in North America, which is a geography that continues to be of high importance to our future growth story. In combination, this gives us a high degree of optimism as we begin FY24.”