DWF Group – who was it that said ‘lawyers always make money’
Another company that will be announcing its interim results on Thursday 10 December is the DWF Group (LON:DWF).
This global legal business issued a very bullish Trading Update in early November, declaring that revenues were up 14% at £147m, while its underlying adjusted pre-tax profits for the six months to end October were a staggering £13m, which is close to what the group made in the whole of last year.
It showed both strong revenue growth and profit performance in the first half, and despite having spent £12m on acquisition related outflows, it still ended up with a £6m lower net debt figure.
These imminent results should be accompanied by a very positive full year prospects comment.
The group’s shares, now at 85p, look to me to be ready for a further uplift in price, they were trading at around 140p in early March this year, so I do see the 100p barrier being easily penetrated.
(Profile 01.06.20 @ 67p set a Target Price of 100p)