DAC Beachcroft profits up nearly 20 per cent to £67m

DAC Beachcroft profits up nearly 20 per cent to £67m

DAC Beachcroft managing partner David Pollitt

International law firm DAC Beachcroft, with offices in Dublin and Belfast, has reported an increase in profits by nearly a fifth to reach £67 million.

The firm today announced its provisional, unaudited results for the year ending 30 April 2021, with turnover up by seven per cent to £275 million.

Profit before tax grew to £67 million, an increase of £11 million on the firm’s 2019/2020 results, while profit per member grew 19 per cent to around £700,000.

The firm also improved its net cash position, with £18 million net cash by year end, up from £8 million the previous year, having put in place a renewed and extended facility during the year.

Managing partner David Pollitt said: “Our results reflect our resilience and adaptability in the face of the stiff challenges posed by the Covid-19 pandemic. Under unusual circumstances, we have continued to pursue our strategy, serve our clients well, and deliver exceptional results. Now we have a balance sheet which will support continued investment in growth and innovation during the year ahead.

“Our success this year has been very much down to our colleagues. We have pulled together as a firm, supported one another, and protected our business for the benefit of all. I want to thank our colleagues for their efforts, and I am very pleased that we have been able to recognise outstanding contributions made during the year by awarding record bonuses.”

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