DSW Capital profit jumps, ups payout after 'transformational' year

DSW Capital PLC on Tuesday reported a sharp jump in annual earnings and declared a higher dividend, after a ‘transformational’ year marked by record network revenue and a boost from acquisitions.

Shares in DSW Capital rose 8.6% to 63.00 pence in London on Tuesday afternoon.

For the year ended March 31, the provider of professional services via the Dow Schofield Watts and DR Solicitors brands reported pretax profit of £1.3 million, up from £207,000 the year before.

Adjusted earnings before interest, tax, depreciation, and amortisation nearly tripled to £1.8 million from £626,000, while revenue more than doubled to £4.9 million from £2.3 million.

Earnings per share rose to 4.0 pence from 0.4p. The company declared a final dividend of 2.0p per share, up from 0.75p, taking the full-year payout to 3.0p, up from 2.0p.

DSW’s net debt at year-end was £300,000, compared to net cash of £2.6 million a year earlier, following the £6.3 million acquisition of DR Solicitors, which added scale and diversification to the group.

Chief Executive Officer Shru Morris said the company enters financial 2026 in a ‘more robust’ position and sees confidence in delivering continued growth, despite wider economic uncertainty.

Record merger and acquisition activity during the year delivered around £3.0 million in network revenue in October alone. DSW said it expects its reliance on M&A to reduce going forward, with DR Solicitors contributing a full year in 2026 and ongoing momentum in organic growth.

‘We are confident in both the year ahead and our ability to scale the business and deliver long-term value,’ Morris said.

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