DWF admits Cobbetts interest
LAW firm DWF has sought to play down talk of a merger with rival Cobbetts, despite registering the DWFCobbetts Internet domain name.
DWF managing partner Andrew Leaitherland blamed an error by a member of firm’s IT department for the domain name issue, but said he does want to talk to Cobbetts about a possible tie-up.
“The domain was registered after a strategy meeting we held a couple of weeks ago where possible future options were discussed. I am not about to sign a merger.”
He added, though: “Cobbetts are one of a number of firms we would be interested in having a conversation with.”
Both firms have their head offices in Manchester and regional bases in London, Leeds and Birmingham, while DWF also has a presence in Liverpool, Preston and the North East.
The pair have encountered somewhat contrasting financial fortunes this year. In the year to the end of April DWF’s turnover rose 15% to £83m, while net profits rose 35% to £12m.
Profits per equity partner rose to £390,000 from £333,000 in the previous year, a 17% rise.
In August, Cobbetts has revealed a flat set of figures for the year to April 30, 2011, with turnover edging up by £700,000 to £44.5m, while net profit fell by £500,000 to £10m.
