Our purpose is to deliver positive outcomes with our colleagues, clients and communities
Download our FY2021/22 Annual Report and Accounts
Like-for-like revenue growth
+7%
+2%
+8%
FY20
FY21
Financial highlights
Read all of our highlights in the Annual Report | Page 01
Hear from our leadership team
Chair's statement
CEO's review
CFO's review
“Our new global operating structure, which came into effect on 1 May 2021, is delivering the benefits of greater integration and alignment of our colleagues and services for the benefit of our clients.”
Jonathan Bloomer
Chair
Our long-term profitable growth strategy
Organic growth
Inorganic growth
Margin expansion
Our purpose in action
Clients
Communities
Through our Integrated Legal Management approach, combined with the quality and dedication of our colleagues we deliver positive outcomes with our clients every day.
Objectives
We deliver organic growth through the continual development of our client offerings, especially in relation to our Integrated Legal Management approach. We use our client programmes to build relationships and seek to extend them into more divisions and practice areas. We develop our services through partner lateral hires and by extending our global reach through association agreements. We provide engaging and rewarding careers and incentivise colleagues to succeed in alignment with our strategy.
“Our performance this year evidences the increasing maturity of our business, the appeal of our offering to clients and our confidence in the medium-term targets we have outlined to Shareholders.”
Sir Nigel Knowles
Group CEO
“The Group has delivered another year of record results with FY2021/22 being the first full year under new leadership. These results include reported revenue growth of 4%, net revenue growth of 4%, a 21% increase in adjusted profit before tax.”
Chris Stefani
CFO
We are committed to making a positive impact in the communities in which we operate. The DWF Foundation, an independent charity founded by DWF, is at the heart of these efforts. It has the sole aim of providing funds, resources and mentoring support to help individuals, groups and communities to achieve their full potential.
We strive to create a positive and inclusive culture, through which all colleagues can be themselves at work and find an environment that allows them to achieve their best performance. A key element of this is recognising and being responsive to colleague wellbeing.
Colleagues
Find out more
The Press Office
Download our FY2021/22 Annual Report and Accounts
CONTACT US:
C O N T A C T
D O W N L O A D
Our purpose is to deliver positive outcomes with our colleagues, clients and communities
Read more about how we are delivering positive outcomes with our colleagues in our Annual Report | Page 17
Page references
001. Strategic report
057. Governance
120. Financial statements
Stronger together, driving positive outcomes
FY2021/22
FY22
+7%
Underpinned by our strong commitment to our sustainability strategy
We published our first global ESG Strategy, with new targets on climate and Diversity & Inclusion.
See pages 32 to 48 for more detail | Click on the icons to read more
Organic growth
Progress
• Group reported growth of 4%, with like-for-like growth of 7%
• 24 partner lateral hires
• New association agreements in Iberia and Latin America, a new regional headquarters for business services in Riyadh and a fourth office in Spain
• Engagement survey score of 76
KPIs
• Revenue growth
• Net revenue growth
• Like-for-like / organic net revenue growth
• Net revenue per partner
• Net promoter score
• Engagement survey score
Objectives
Inorganic growth is pursued primarily as a consequence of our strategy to deliver the right services for our clients in the right locations. We pursue M&A with the purpose of delivering positive outcomes for our clients.
Progress
• Acquisitions of Zing365 and Barnescraig & Associates, further developing our Connected Services offering
• A strong pipeline of M&A opportunities
KPIs
• Revenue growth
• Net revenue growth
• Net promoter score
Inorganic growth
Objectives
We seek to improve the profitability of our business through a focus on operational excellence and cost management
Progress
• Gross margin improvement in every division
• A reduction in our cost-to-income ratio from 39.2% to 38.4%
• Focus on pricing
• Property strategy
• Mindcrest work transition
KPIs
• Gross profit margin
• Cost to income ratio
• Reported profit before tax
• Adjusted profit before tax / adjusted profit before tax margin %
Margin expansion
£297.2
m
£338.1
m
£350.2
m
+4%
Net
revenue
FY20
FY21
FY22
£15.2
m
£34.2
m
£41.4
m
+21%
Adjusted profit before tax
FY20
FY21
FY22
41.4%
39.2%
38.4%
-0.8%
Cost to
income ratio
FY20
FY21
FY22
206
184
179
-5
Lock-up
days
FY20
FY21
FY22
Read more about how we are delivering positive outcomes with our communities in our Annual Report | Page 19
Read more about how we are delivering positive outcomes with our clients in our Annual Report | Page 18
Read the Chair's statement in our Annual Report | Page 06
Read the CEO's review in our annual report | Page 08
Read the CFO's review in our Annual Report | Page 22
Read the CEO's review in our annual report | Page 08
Read the Chair's statement in our Annual Report | Page 06
Download our FY2021/22
ESEF Report File
Download our FY2021/22
ESEF Report File