DAC Beachcroft (DACB) have announced their latest financial figures, as profit before tax grew to £67m, an increase of £11m (19%) on the firm’s 2019/2020 results.
Total turnover was £275m, an increase of £17m (7%) on the previous year.
The firm again improved its net cash position, with £18m net cash by year end (up from £8m the previous year), having put in place a renewed and extended facility during the year.
The increase is attributed to the firm’s new clients, including easyJet, Sainsbury’s, Network Rail, and Zego, and “further investments in new talent”.
DACB made seventeen lateral hires over the course of the year and recently promoted a further sixteen to partner in May 2021. DACB also set up a new advocacy service, 8 DAC Beachcroft Buildings, which has expanded to over 20 barristers and advocates since launching in January 2021.
David Pollitt, DAC Beachcroft’s managing partner, 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.”