Profits up at law firm as it expands international footprint

Law firm DWF expects to report a 20% increase in pre-tax profits as it continues to grow its international footprint with a new Hong Kong link.

The Manchester-headquartered firm said it “look[s] forward to making more progress” this year.

The firm expects revenues for the year to April 2022 to be £350m – showing like-for-like growth of 6% – with adjusted pre-tax profits of £41m.

DWF’s chief executive Sir Nigel Knowles said: “We have enjoyed strong like-for-like growth and a 20% increase in adjusted profit before tax, underpinned by our integrated model and our less cyclical businesses, such as insurance, litigation and regulatory work, where we do not see the sort of volatility that can occur in more transaction focussed firms.”

It has reached an exclusive affiliation agreement with Hong Kong law firm Hauzen, increasing its global presence to 19 countries.

In March it announced associations with firms in Spain and Portugal, while last year it agreed tie-ups in Singapore and South Africa.

“We are continuing to build out our international footprint, with the latest agreement signed with Hauzen in Hong Kong,” said Sir Nigel.

“This is a key global financial centre and we see a clear opportunity to increase activity focused on areas where we have sector strength, but without overcommitting operationally.”