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DSW Capital – the owner of professional services network Dow Schofield Watts – has announced adjusted pre-tax profits of £0.9m for the six months to 30 September 2022, up from £0.8m in the same period last year.
The group has also achieved revenue rising to £9.8m, up 34.5% compared to the same period in 2022 at £7.3m, and is currently on track to deliver results for the year ended 31 March 2023 in line with market expectations.
Total income from licensees increased by 40.4% to £1.6m compared with £1.2m in for the same period in 2022.
James Dow, chief executive officer, said: “Activity in the network’s primary market, the SME sector, has remained strong to date and resilient to the many economic challenges facing the UK. Whilst a downturn is likely to affect corporate finance and transaction services within the Network, we would expect some of that to be offset by an increase in the demand for insolvency, restructuring, and debt advisory services, for which we are already seeing strong demand as corporate distress levels rise.
“We continue to seek to grow the Group through diversification with the addition and expansion of new service lines and to recruit professionals in other disciplines to reduce the mergers and acquisitions weighting of our licence fees.”
