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DWF Group PLC on Thursday said it delivered strong financial progress this year, and signed an exclusive deal with a Hong Kong law firm.
In a company update for the financial year ended on April 30, the Manchester, England-based legal business said it expects to see a net revenue of £350 million, representing a like-for-like growth of more than 6%.
Adjusted pretax profit is expected to be no less than £41 million, in line with market expectations and 20% higher than the year before.
Sir Nigel Knowles, Chief Executive Officer, said: ‘The [2022 financial year] results demonstrate significant progress towards our medium term guidance which we are confident will continue during [financial year 2023]. We have enjoyed strong like-for-like growth and a 20% increase in adjusted profit before tax, underpinned by our integrated model and our less cyclical businesses, such as insurance, litigation and regulatory work, where we do not see the sort of volatility that can occur in more transaction focussed firms.’
DWF signed an exclusive affiliation agreement with Hauzen LLP, a Hong Kong law firm. The company said it would strengthen its global offering and complement the exclusive association with Eldan Law in Singapore announced in April 2021.
Looking ahead, DWF expects to make more progress in the next financial year despite an ongoing inflationary backdrop and geopolitical uncertainties.
DWF will publish its fullyear results on July 21.
DWF shares were up 2% at 105.02 pence each on Thursday afternoon in London.
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