Business
Trading Update, Notice of Results & Investor Event
Trading Update, Notice of Results & Investor Event.
About this update from Dsw Capital Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.\n \n \n \n \n \n \n \n \n \n 10 May 2022\n \n \n \n \n DSW CAPITAL PLC\n \n \n \n (\"DSW Capital\", \"DSW\" or the \"Group\")\n \n \n (AIM: DSW)\n \n \n \n \n \n \n \n \n Trading Update, Notice of Final Results and Investor Event\n \n \n \n \n FY22 ahead of market expectations\n \n \n \n \n \n \n DSW Capital, a profitable, fast growing, mid-market, challenger professional services licence network and owner of Dow Schofield Watts brand, announces the following trading update ahead of the Group's Final Results for the year ended 31 March 2022 (\"FY22\" or the \"Period\"), which will be released on 14 July 2022.\n \n \n \n \n \n The Group has continued to trade strongly, following its IPO in December 2021, and the Board is pleased to report that expected Revenue and Adjusted Pre-Tax Profit1 for FY22 are ahead of market expectations, subject to audit. Expected Network Revenue for FY22 of £18.3 million (FY21: £15.3 million) is significantly ahead of market expectations and 19.6% ahead of the prior year. \n \n \n \n \n \n The DSW Network, which comprises 20 licensee businesses, benefited from high levels of demand in the professional services sector throughout the Period and, in February 2022, DSW was named by Experian as one of the top 20 most active corporate finance advisers in the UK in 2021. Average Revenue per Fee Earner increased by 15.8% in the Period to £227k (FY21: £196k\n \n 2\n \n ). As anticipated, the heightened profile of DSW resulting from the IPO augmented recruitment across the licensee businesses. Fee Earners at 31 March 2022 totalled 88, a 14.3% increase on the prior year.\n \n \n \n \n \n As previously announced, DSW Capital successfully executed on its strategy to expand its service lines following IPO with the addition of DSW Asset Based Lending Risk Management LLP in January 2022. This brought the total number of licensees to 20 across 11 service lines. Since the Period end, the Group has welcomed two new partner...