DWF boosts profit by 51%, despite ‘challenging’ market conditions
7/15/2010Law firm DWF has bucked the trend by posting a 51% increase in net profit and a 17% rise in turnover to £71.5m for its year ending April 2010.
Profits per equity partner also rose over 50% to £333,000 from £213,000 in the previous year, with each lawyer generating an average of nearly £200,000 of revenue.
Andrew Leaitherland, managing partner at DWF, explained: "These are clearly a great set of results that, we believe, differentiate us from a large number of our competitors. The economic conditions for all of us have continued to be challenging but we have still managed to achieve significant growth both in revenue and margin.
"We have grown the firm substantially over the last 12 months to 1,100 people across five locations. We have recruited three equity and six salaried partners in addition to a number of strategically important lateral hires, as we continue to attract the best talent from our key competitors.
"I firmly believe that we are in an extremely strong position within the legal marketplace, especially with our sustained investment in our transactional and contentious teams. Our commitment to clients continues to be paramount for us but it is our values that will differentiate us and provide the framework for our ambitious future growth as we strive for the status of a top 30 law firm."
ENDS
Notes to editors
DWF LLP is one of the fastest growing law firms in the UK. With over 1,100 people based in Leeds, Liverpool, London, Manchester and Preston, DWF provides a range of services grouped in the following sectors:
Corporate
Finance & Restructuring
Litigation
Real Estate
People
Insurance
Private Client
Media enquiries to:
Pippa Davies or Richard Clein
Bell Pottinger North
Tel: 0151 244 5466 or 07763 261 996
