Davies Arnold Cooper (DAC) has vowed to push its turnover through the £40m barrier by the end of this financial year as it scouts for another merger following its deal with KSB Law earlier this year.
DAC ;senior ;partner Danny Gowan said the first two months of the current financial year were better than the first two months of the previous year and that the firm is on budget.
“Whether we exceed our £40m depends on how the economy shapes up in the next few months,” said Gowan. “Also, the insurance litigation side is still flat as it lags a year or so behind, so if this picks up that will make a difference.”
DAC posted a revenue of £37.3m for 2007-08 – a 16.6 per cent increase on the previous year’s £32m. To hit the new target of £40m, DAC would need a 7 per cent increase in turnover.
Gowan added that DAC wanted to acquire a firm that is similar in size to KSB. The 50 fee-earner firm merged with DAC at the beginning of this year (TheLawyer. com, 2 January).
“We’re constantly on the lookout for that and want to see another merger over the next year or two,” said Gowan.
The firm also has long-term plans to open an office in Brazil to complement its Mexico City and Spain operations.
“Brazil is an obvious move for us, although it won’t be soon,” revealed Gowan. “In the short term we’re looking for an association in Brazil and once that’s in place we can take it from there.”