DWF enjoys strong financial year as it grows Australian operations
THE legal business DWF said it had enjoyed a strong financial year as it grows its Australian operations.
DWF, which made its stock market debut in March, said in a trading update that it has continued to record strong revenue growth.
It said its FY19 (full year 2019) revenue is expected to grow by not less than 15 per cent.
DWF, which has an office in Leeds. said it had delivering growth across each of its divisions in line with the company’s medium term targets.
The statement added: “International has seen the strongest growth in the period with revenue increasing by more than 70 per cent while connected services saw growth in FY19 in excess of 20 per cent.
The statement continued: “Insurance and commercial services also delivered strong organic growth of in excess of 5 per cent, in line with guidance.
“DWF has had a solid start to the new financial year and the company is confident that it will continue to deliver further revenue and EBITDA growth in line with the company’s medium term targets. The company expects to deliver continued organic growth as well as bolt on acquisition opportunities.”
Andrew Leaitherland, the chief executive commented: “This has been another year of strong financial performance across our business, including good organic growth rates in our insurance and commercial services divisions and double-digit growth in connected services and international, providing a firm foundation on which to begin life as a public company.
“Our international business in particular has shown extremely strong revenue growth. In this new financial year, we have already built upon our success by delivering on an international expansion opportunity highlighted in our prospectus, through the transaction to acquire the legal services business of K&L Gates Jamka in Poland.
Mr Leaitherland, added: “Since our IPO (initial public offering) in March, we have also further expanded in Australia through the acquisition of FT Adjusting, a connected services business, and the hire of seven principal lawyers from the Melbourne law firm, WARD Lawyers.”