DWF has positive first half thanks to merger activity

DWF has reported a half-year turnover rise to £59m following several mergers, with a 7.6 per cent growth in like-for-like revenue.

Andrew Leaitherland
Andrew Leaitherland

The firm announced turnover of “over £59m” for the first half of the 2012/13 financial year, a rise of 31 per cent compared to £45m at the same point last year (14 November 2011). Last year’s figures included work in progress while this year’s do not.

The results follow three mergers in the past 12 months. In November 2011 DWF took over Newcastle firm Crutes (25 November 2011). It followed this up with a merger with Birmingham’s Buller Jefferies (2 April 2012) and in June announced a tie-up with Scottish firm Biggart Baillie (7 June 2012). Talks with Cobbetts broke down at the end of January after the two firms failed to agree a deal (13 January 2012).

DWF has recruited 201 staff members in the first six months of the current financial year in addition to 243 joining from Biggart Baillie.

The firm broke through the £100m turnover barrier for the first time in the last full financial year, posting revenues of £102m (1 June 2012). On current form DWF should exceed this figure for the current financial year.

In a statement managing partner Andrew Leaitherland said recruitment was the key to the firm’s success and the firm would continue to invest in lawyers and staff.

“We have ambitions to be a top 20 law firm by 2015 and our strong internal values, talented people, and commitment to working closely with our expanding portfolio of clients means we have a solid platform to build on and meet these targets,” he added.