DAC Beachcroft announces first combined half-year financials
DAC Beachcroft has reported a 10% increase in turnover for the first half of the financial year, following the recent merger deal which created the new firm. The newly-formed firm has announced combined fee income of £88.2m for the six-month period ending 31 October, the day on which the merger between Davies Arnold Cooper and Beachcroft went live.
December 05, 2011 at 05:19 AM
2 minute read
DAC Beachcroft has reported a 10% increase in turnover for the first half of the financial year, following the recent merger deal which created the new firm.
The newly-formed firm has announced combined fee income of £88.2m for the six-month period ending 31 October, the day on which the merger between Davies Arnold Cooper and Beachcroft went live.
Legacy Beachcroft last year posted a 3% decrease in turnover for the first six months of 2010-11, although the firm subsequently reported an increase of 2.3% for the full financial year to £134m. DAC, meanwhile, took in total fee income of £44.1m during 2010-11.
DAC Beachcroft senior partner Simon Hodson (pictured) commented: "This performance is laudable because of the disruption the merger caused for both firms. It is a testament to the hard work and focus everyone has had on looking after clients.
"It is, of course, only the first six months of the year and the real test is going to be maintaining that focus during the first six months of trading as DAC Beachcroft as well as maintaining all of the necessary financial disciplines to ensure a successful outcome for the year as a whole."
The firm, which has a combined total of 230 partners, 2,000 staff and expected turnover of £190m, has offices in Birmingham, Bristol, Leeds, London, Manchester, Newcastle, Newport and Winchester, with international bases in Ireland, Mexico, New Zealand, Singapore and Spain.
The news comes after CMS Cameron McKenna last week posted a 5% increase in half-year revenues, with turnover standing at £106m for the first six months of 2011-12.
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