DAC Beachcroft sees turnover reach £243m, profit before tax rise 10%

Law firm DAC Beachcroft has unveiled a 6% increase in turnover to £243m for the 2018/19 financial year.

Profit before tax grew to £52m, an increase of £5m (10%) on the firm's 2017/2018 results. Profit per member meanwhile grew 7% to circa £570,000.

DAC Beachcroft said it had also reduced its net debt again, having £1m net cash by year end, ahead of planned investment.

“This is the firm’s fifth successive year of combined turnover growth, profit before tax growth, profit before tax margin growth, profit per member growth, and net debt reduction,” it said.

The firm said it had awarded record bonus payments to its staff.

DAC Beachcroft’s Managing Partner, David Pollitt, said: “The benefits of our continued adherence to our clear and consistent purpose and strategy are evident once more in our financial performance.

“These results point to the vast array of activity taking place across our firm. We act for all of the UK’s top-ten insurers, we are market leaders in the provision of strategic, corporate, commercial and regulatory legal advice to providers and commissioners in the health sector, and we advise all of the UK’s top-12 housebuilders. Our Business Advisory teams continue to excel in providing corporate transactional advice to blue-chip clients.”