Dundas & Wilson posts revenue gain
18 Jun 07
£60.8 million turnover in 2006-07 but investment cuts profits rise
Dundas & Wilson has announced its financial results for the year 2006-07, with turnover up 15% to £60.8m, from £53m last year.
Net profit rose to £22.1m, up 4%, giving average profits per partner at £308,000. The firm has invested more heavily in recruitment over the last year. Additionally, it has invested in its office accommodation, including in London where space has expanded by 33%, and also in training across the practice.
The firm’s total number of staff has grown from 530 to 600 over the 12-month period, and all its 83 partners are equity partners. Much of this investment focused on strategic growth in its London operation, which grew from 100 to nearly 150 people. Further significant key lateral hires and internal promotions have been made, including 11 new partners in the last few months.
D&W managing partner Donald Shaw said: “We fully intend to continue building for the medium to long term to strengthen our position from being market leader in Scotland to that of an even stronger UK practice with increased visibility and presence in London.”