StockMarketWire.com - Legal business DWF said it had generated higher revenue and core earnings in the first two months of its fiscal year, underpinned by a boost from acquisitions.

In the first two months of the year, revenue grew about 21% on-year, and core earnings (EBITDA) were ahead of prior year by £3m, reflecting the contribution from the acquisitions of RCD in Spain and Mindcrest, the company said.

After encountering some headwinds from Covid-19 in the fourth-quarter of 2020, the company said it was cautiously optimistic about 2021 performance, though added that it was 'too early to make any firm predictions given the pandemic is ongoing and the economic impact remains unpredictable.'

'The group's connected division is delivering substantial growth, with revenues ahead by over 35% year-on-year, aided by increasing internal referrals and continued growth of its external profile,' the company said.

'The group's managed services offering will continue to build during the year, with appropriate workflows already being transitioned internally to this division and serviced more efficiently, which are expected to deliver margin benefits in FY22 and beyond,' it added.




At 8:27am: [LON:DWF] share price was +8.7p at 65.9p



Story provided by StockMarketWire.com