Gulf boom drives DWS revenue up 10 per cent

Denton Wilde Sapte (DWS) has announced a 10 per cent rise in turnover worldwide to around £85m at the half-year stage, with its four offices in the Gulf posting a massive 63 per cent rise on the same period last year.

The biggest increase was seen in the Gulf but growth in the London office has stalled with revenues rising a negligible amount.

However the half-year results in the Middle East will please the partnership, which has invested much in the region during the last year. The firm has 80 lawyers and four offices in the Gulf, in Muscat, Abu Dhabi and two in Dubai.

It planned to double the size of its seven-lawyer Abu Dhabi office by the end of the year and has added two partners already to Muscat.

The news comes one week after DWS announced that its UK offices would convert to limited-liability partnership (LLP) status. The 10 overseas offices will continue to practice under the DWS name, with overseas partners given voting rights for firmwide decisions. All partners’ remuneration, on mixed lockstep, is based on the same amount of monetary value per point across the network.