Revenues soar at financial advisory firm
DSW Capital, the mid-market, challenger financial advisory firm and owner of the Dow Schofield Watts brand, has posted what it is calling a “strong” performance for the six months to September 30.
The firm’s first half financial period saw network revenue rising to £9.8 – a rise of 34% on last year, while profits remained generally flat at £600,000 – down from £700,000 in 2021.
Fee earner numbers rose from 81 last year to 93 this time around.
James Dow, chief executive officer, said: “Activity in the network’s primary market, the SME sector, has remained strong to date and resilient to the many economic challenges facing the UK. Whilst a downturn is likely to affect corporate finance and transaction services within the network, we would expect some of that to be offset by an increase in the demand for insolvency, restructuring, and debt advisory services, for which we are already seeing strong demand as corporate distress levels rise.
“We continue to seek to grow the group through diversification with the addition and expansion of new service lines and to recruit professionals in other disciplines to reduce the M&A weighting of our licence fees.”