DWF Group PLC - Manchester, England-based legal business with operations in North America - Expects to report net revenue of about GBP380 million for the financial year ended April 30, reflecting growth of more than 8%. In financial 2022, net revenue was GBP350.2 million. Looking ahead, it says it is highly confident in medium term guidance, underpinned by its cost programme. The cost programme is now expected to remove over GBP15 million of cost by the end of financial 2024, versus the GBP10 million to GBP12 million reported in December 2022. Additionally, says it is pleased with its progress on revenue and costs "in the context of prevailing economic conditions and interest rate rises".
Chief Executive Officer Nigel Knowles says: "Our performance continues to show how robust a business we are, even in a challenging environment. We have delivered consistently strong revenue growth and underlying organic growth, with the initial benefits of our cost control programme also coming through."
Back in December, DWF reported pretax profit of GBP12.9 million for the six months ended on October 31, up 17% from GBP11.0 million a year before. Revenue increased by 4.2% to GBP212.1 million from GBP203.5 million in the half year.
Current stock price: 64.20 pence each, up 3.6% on Tuesday morning in London
12-month change: down 39%
By Xindi Wei, Alliance News reporter
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