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DWF Group PLC - Manchester, England-based legal business with operations in North America - Expects to report net revenue of about £380 million for the financial year ended April 30, reflecting growth of more than 8%. In financial 2022, net revenue was £350.2 million. Looking ahead, it says it is highly confident in medium term guidance, underpinned by its cost programme. The cost programme is now expected to remove over £15 million of cost by the end of financial 2024, versus the £10 million to £12 million reported in December 2022. Additionally, says it is pleased with its progress on revenue and costs ‘in the context of prevailing economic conditions and interest rate rises’. Chief Executive Officer Nigel Knowles says: ‘Our performance continues to show how robust a business we are, even in a challenging environment. We have delivered consistently strong revenue growth and underlying organic growth, with the initial benefits of our cost control programme also coming through.’ Back in December, DWF reported pretax profit of £12.9 million for the six months ended on October 31, up 17% from £11.0 million a year before. Revenue increased by 4.2% to £212.1 million from £203.5 million in the half year. Current stock price: 64.20 pence each, up 3.6% on Tuesday morning in London 12-month change: down 39% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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