DWF posts net profit growth to £25.5m, revenues at £191m

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  • So DWF, whom believe they are taking on the Silver Circle, and upper mid tier, have a gross profit figure of 12% of turnover, not very good on any construction. More worryingly despite bolt on after bolt on, you would think that creates cost efficiency but it hasn't!

    Worse still insurance revenue was up by just 3%, which suggest to me their Insurer clients are squeezing them still further. Corporate and Real Estate, had decent showings in fairness, but are a drop in the ocean and minuscule when compared to the space that DWF, want to occupy. Think, Travers, Taylor Wessing, Stephenson Harwood, Clyde & Co. What DWF, are good at is churn and burn volume factory style insurance claims, and that is what they should stick to . Corporate and real estate, they are wasting their time in trying to build out that franchise.

    These figures are unimpressive, and the slightest downturn of any sort, be it client losses, reduction in fee rates, or macro issues, this firm will be no more!?

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  • I still don't get the point of DWF. Is it just to be a big mid-market fish in the small UK pond? How can DWF ever be of any real relevance?

    It's quite embarassing when the "International" rubric on your website consists of five "Directors" claiming to be frequent visitors overseas.

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  • Louis, I could not agree with you more! But what I do not agree with you about is they big mid market fish in the small UK pond. They have yet to even achieve that. I met someone ( a full equity partner ) for lunch and he tells me they are aiming to play at LEAST at the Eversheds level within 2/3 years! I laughed and so did he. Says it all really

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  • And have you seen the new website! Wow they really do know what they are doing. Poor buggers.

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  • Most of the Corporate and Real Estate will no doubt have been inherited from Cobbetts. As for the International element, I have worked alongside Andrew Leach and he is a very good lawyer with a good team behind him but again the team was orginally Cobbetts.

    It will take DWF years to shake off their volume factory reputation and it will be interesting to see how seriously the Corporate clients outside of the insurers will take them.

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  • You know that you are doing well, when even a 23% increase in profit draws criticism.

    Similar remarks are leveled at DLA by law firms who don't like to see the old order being dismantled by savvy upstarts.

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