Acquisitions ramp up DWF’s half-year revenue

ACQUISITIVE law firm DWF has seen its hunger for deals, including the pre-packaged acquisition of Cobbetts, push half-year revenues to £93.6m.

Overall, the firm saw turnover rise by 57.5% in the six months to the end of October but most of this was down to the acquisition of Cobbetts and Fishburns in February.

On a like-for-like basis revenues grew at around 10%. It said profitability had also increased but did not release a figure. The accounts have not yet been filed at Companies House.

DWF now has 2,500 people based in Leeds, Manchester, Liverpool, Preston, Birmingham, Bristol, Dublin, Edinburgh, Glasgow, London and Newcastle.
The firm saw growth across a number of sectors including property where revenues rose by 92% to £13.5m, and insurance which saw a 34% rise to £41m.

In May it bolstered its property team with the recruitment of a 12-strong three-partner team from Eversheds in Newcastle, and has since recruited six more property partners. DWF expects further growth in insurance, having strengthened its catastrophic and large loss personal injury and non-injury team with the hire of a 48-strong team, including 11 partners from specialist insurance law firm Greenwoods last month.

Revenue associated with transport and retail and hospitality was also up and the firm plans to increase its work with the financial services industry which accounts for 8% of income.

Managing partner Andrew Leaitherland said: “We’ve worked exceptionally hard to deliver what are, by all accounts, very robust half-year results. We have experienced significant benefit already from our acquisitive phase over the last 12 to 18 months and we’re now beginning to gain traction in our chosen markets as our clients build increasing confidence in our ability to deliver exceptional client service at an affordable pricing point.

“We remain committed to employing the best people with a passion and commitment to go further for clients and over the last six months we’ve continued to invest in lateral hire opportunities, particularly in London and Birmingham, which will support further growth in the second half of the year, further deepening and broadening our sector offering to clients.”