Commercial law firm DWF has reported strong revenue growth fuelled by its international expansion.
The firm, which floated onto the London Stock Exchange in March, said it expected revenues to grow 15 per cent for the 12 months to end of April.
The firm’s international business has seen the strongest growth in the period with revenue increasing by more than 70 per cent, while connected services saw growth in FY19 in excess of 20 per cent.
Insurance and commercial services also delivered strong organic growth of in excess of 5 per cent, in line with guidance.
The company’s year-end net debt was in line with management’s expectations at £35.1m.
DWF increased its partner headcount by 19 through its lateral partner hiring and promotion programme.
It also expects to pay a full-year dividend of £3m, subject to shareholder approval, in September and to pay further dividends thereafter
CEO Andrew Leaitherland said: “This has been another year of strong financial performance across our business, including good organic growth rates in our insurance and commercial services divisions and double-digit growth in Connected Services and International, providing a firm foundation on which to begin life as a public company.
“Our international business in particular has shown extremely strong revenue growth. In this new financial year, we have already built upon our success by delivering on an international expansion opportunity highlighted in our prospectus, through the transaction to acquire the legal services business of K&L Gates Jamka in Poland.
“Since our IPO in March, we have also further expanded in Australia through the acquisition of FT Adjusting, a Connected Services business, and the hire of seven principal lawyers from the Melbourne law firm, WARD Lawyers.”
