Andrew Leaitherland, DWF Group CEODWF Share Price Peaks as Firm Announces Interim Half-Year Results
The listed firm's share price has surpassed its listing value of 125p per share for the first time.
November 18, 2019 at 04:56 AM
2 minute read
DWF has announced it expects to grow its revenue for the first half of the current financial year by no less than 10%.
The firm's share price peaked at 133p this morning (November 18) following the announcement, and as of 9:50am stood at 128p. It is the first time the share price has surpassed its listing value of 125p per share.
The firm's statement added it has reduced its net debt by £9.5 million to £49.5 million, as well as a total £3 million dividend payment to partners in September.
The firm also announced a reduction in lockup days – how quickly the firm can collect cash from clients. The firm has reduced its lockup days by two, "demonstrating good progress towards the five- to 10-day medium-term target".
The figures were contained in an interim statement by the firm. It will release its audited figures next month (December 11).
The statement added that the firm grew its international business by about 29% in the six months ending October 31. Meanwhile, its 'connected services' offering expanded by 18% in the six months to October 31.
"This growth was weighted towards the insurance division and the litigation practice group within commercial services, reflecting DWF's strong counter-cyclical offering," the statement added.
In the six-month period, the firm also increased its net partner headcount by 20.
Firm CEO Andrew Leaitherland said the firm had seen a "number of important milestones" as it "continues to deliver on our IPO promises" .
He marked out the firm's recent scalp of BT's law arm as "demonstrating the progress of our managed services platform".
He continued: "Going forward, we will continue to supplement this organic activity with selective M&A, with our associations and broad market reach providing a strong pipeline of opportunities."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Apple Subsidiaries in Belgium and France Sued by DRC Over Conflict Minerals
2 minute read
DLA Piper, Heuking & Other Key Moves as German Legal Market Reshuffles Ahead of 2025
2 minute readLaw Firms Mentioned
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
