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DSW Capital PLC - Warrington, England-based professional services via Dow Schofield Watts and DR Solicitors brands - Promotes Deputy Chief Executive Officer Shru Morris to CEO-designate. Morris, who joined DSW in August, will success James Dow on April 1. Dow co-founded DSW with Jon Schofield and Mark Watts back in 2002. DSW notes that Morris was involved in the ‘transformational’ acquisition of DR Soliciters Ltd for £6.1 million, which completed last month. DSW also promotes Pete Fendall, currently chief operating officer & interim chief financial officer, to chief finance & operating officer.
The management announcement comes as DSW reports half-year results on Monday. Pretax profit is £101,000, swung from a loss of £63,000 a year before. Adjusted operating profit is £42,000, down from £95,000, while adjusted pretax profit is £200,000, unchanged. Revenue is flat at £1.1 million. DSW declares an interim dividend of 1.0 pence, which is one third of the intended total dividend for financial 2025 of 3.0p, up from 2.0p in financial 2024.
For all of financial 2025, adjusted pretax profit is expected to be £1.5 million, up from £500,000. ‘Momentum gained in September 2024 continued in October, generating exceptional levels of M&A activity as businesses looked to complete transactions ahead of the autumn [UK government] budget,’ DSW says.
Current stock price: 72.00 pence
12-month change: up 35%
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