DAC Beachcroft Announces Solid Half-Year Financial Results
Published On: 14 December 2015
International law firm DAC Beachcroft has announced a solid improvement in its financial performance at the half-year stage for 2015/16.
Total revenue at 31 October stood above budget at £100.8 million, a 2% increase on the same period last year.
The unaudited half-year results were also characterised by on-going margin improvement and continued progress in the management of working capital, resulting in a strong cash outcome.
DAC Beachcroft Managing Partner, David Pollitt, said:
"I am pleased with this good result at the half-year stage, which bears testament to the continuing hard work of all our people. Our drive for improved profitability is also showing results as is our focus on good business discipline, with lock-up improving significantly and overall net debt falling substantially by £4.7m, or 17%, year-on-year."
"However, there is plenty more to be done to continue delivering the necessary marginal gains for the remaining six months of the year to help us transform our year-end figures from good to great. We look forward to delivering further good news about our performance at year-end next summer."