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  • Writer's pictureMark Watson-Mitchell

DWF Group - Zeus is optimistic

The first half Trading Update from DWF Group (LON:DWF), the global legal grouping, was declared recently and the market’s reaction was very positive.

It appears in the six months to end October the group performed very well despite the Covid-19 hassles. Revenues were up 14% while the adjusted pre-tax profits will show through slightly weaker, down £1m at £13m.

The group’s management is cautiously optimistic about its full year outlook, especially because it is more than capable of handling lockdowns through remote working.

House broker Zeus Capital is now estimating £339m revenues for the year to end April 2021, with profits of £27.3m, earnings of 6.7p and a dividend of 4.7p per share.

Next year Zeus goes for £352m revenues, £33.9m profits, 8.4p of earnings and 5.9p of dividend per share.

Stretching further ahead their estimates are for £364m, £38m, 9.4p and 6.6p respectively.

In my book that makes the shares at 83.75p, look very appealing, my price objective is not too far away now.

The interim results are due to be announced on Thursday 10th December.


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