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DWF plans to reduce Australian footprint to streamline business
StockMarketWire.com
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Legal services provider DWF said it plans to reduce its Australian footprint, with the closure of its legal advisory operations in Melbourne, Sydney and Newcastle.
These changes would enable a leaner Australian business to focus on institutional clients and core sectors, such as insurance, which 'have a stronger strategic fit for the group and offer the best opportunity for sustainable and profitable growth...' the company said.
'While we expect an FY21 loss for the Australian operations of between £3m and £4m and some one-off non-underlying associated closure costs in FY21, these changes are anticipated to be earnings enhancing for the group,' it added.
The company said it expects 2021 performance to be at least in line with expectations, amid improving financial performance.
At 9:50am: (LON:DWF) share price was 0p at 83p
Story provided by StockMarketWire.com
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