DAC Beachcroft records seven per cent rise in pre-tax profits to £56m

DAC Beachcroft records seven per cent rise in pre-tax profits to £56m

David Pollitt

Pre-tax profits at DAC Beachcroft – which has offices in Glasgow and Edinburgh – increased by seven per cent to £56 million in the 2019/20 financial year.

Profit per member grew three per cent to around £590,000, maintaining the “above £500k” benchmark for the third consecutive year, its financial results reveal.

In total, the UK firm’s turnover was £258 million, a six per cent increase on the previous year, and its net cash position improved, having £8 million net cash by year end.

This is the firm’s sixth successive year of combined turnover growth, profit before tax growth, profit before tax margin growth, profit per member growth, and net debt reduction/net cash enhancement.

David Pollitt, managing partner of DAC Beachcroft, said: “Our results reflect, at the group level, yet another year of consistent improvement. I am very pleased we were able to end the year strongly, particularly given the impacts of COVID-19 which started to take hold in the final quarter.

“Throughout the year we continued our steady expansion – launching in Belfast, joining forces with a market-leading healthcare law firm in Madrid, adding corporate/commercial and competition capabilities in Dublin, taking on a number of new hires in Glasgow – and we have benefited from our first full year in France.

“We are also delighted that DAC Beachcroft is increasingly becoming the firm where talented people want to work, both in the UK and internationally. The strategic growth we are pursuing is driven by client demand and our desire to serve them more fully as a truly international firm.”

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