DAC Beachcroft posts modest revenue rise as profit grows 9 per cent

Profit before tax has increased by 9 per cent, from £32m to £35m, with profit before tax per member growing by 21 per cent to £358,000. The figure is an indication of the firm’s average profit per equity partner, which is calculated using net profit.

Debt reduction

The firm also continue to reduce its lock-up days in an attempt to lower its level of net debt, with DAC’s lock-up days falling 4 per cent to 143. This caused net debt to fall by £5m to £20m.

Source: The Lawyer