Duyuru • Oct 11
DWF Group plc Announces Tea Colaianni, Resigns as Non-Executive Director DWF Group plc announces that Tea Colaianni, a Non-Executive Director of DWF Group Plc (DWF) has confirmed that, due to the cancellation DWF trading their shares on the main market for listed securities of the London Stock Exchange, with effect from 4 October 2023, she has resigned as a director of DWF. Duyuru • Sep 27
DWF Group plc Declares Special Dividend, Payable Expected to Be No Later Than October 17, 2023 DWF Group plc announced that the DWF Directors have declared the Special Dividend, settlement of which is conditional upon the Scheme becoming Effective. The other Conditions to the Scheme and the Acquisition are set out in the Scheme Document. DWF Shareholders who are on the register of members of DWF at the Scheme Record Time (expected to be at 6.00 pm. on 2 October 2023) (the "Record Date") will be entitled to the Special Dividend, being 3 pence for each DWF Share held at the Record Date. As the Special Dividend is conditional on the Scheme becoming Effective and shares the same record date as the Scheme Record Date, no ex date will be applied to the Special Dividend. Settlement of the Special Dividend will take place no later than 14 days after the Scheme has become Effective (as further referred to below, currently expected to be no later than 17 October 2023, assuming the Scheme becomes Effective on 3 October 2023). In the event that the Scheme does not become Effective, there will be no Special Dividend. Duyuru • Sep 24
DWF Appoints Andrew Symons as Insurance Partner DWF announced that Andrew Symons has been appointed to the firm's London Global Risks team as an insurance partner. Symons has more than 30 years of experience. New Risk • Jul 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks High level of debt (163% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.6% increase in shares outstanding). Price Target Changed • Jul 11
Price target increased by 12% to UK£1.14 Up from UK£1.02, the current price target is an average from 5 analysts. New target price is 37% above last closing price of UK£0.83. Stock is down 16% over the past year. The company is forecast to post earnings per share of UK£0.10 for next year compared to UK£0.068 last year. Duyuru • Jul 11
DWF Shares Jump on Takeover Approach from Inflexion Private Equity DWF Group plc (LSE:DWF) on July 10, 2023 confirmed a Bloomberg report that it was in talks about a potential takeover with Inflexion Private Equity Partners LLP. The Manchester-based legal business said the potential offer would be for a total consideration of 100 pence per share. This could comprise 97p in cash, and a 3p special dividend for the six months to April 30. The total consideration is a 53% premium to Friday's closing price of 65.5p. Shares in DWF jumped 31% to 85.75p each in London on July 10, 2023 morning. Should a firm offer on such terms be made by Inflexion, DWF said it would be "minded to unanimously recommend" it to its shareholders. The offer would be subject to certain terms and conditions, DWF noted. "Discussions between DWF and Inflexion are ongoing and there can be no certainty that an offer will be made, even if the pre-conditions are satisfied or waived," the company said. Under UK takeover rules, Inflexion has until August 7 to announce a firm intention to make an offer or announce that it does not intend to make an offer. Duyuru • May 31
DWF Group plc Provides Revenue Guidance for the Financial Year Ended 30 April 2023 DWF Group plc provided revenue guidance for the financial year ended 30 April 2023. For the year, the company expects net revenue of c£380 million (unaudited) reflecting growth of more than 8%. Price Target Changed • May 30
Price target decreased by 7.6% to UK£1.26 Down from UK£1.36, the current price target is an average from 5 analysts. New target price is 97% above last closing price of UK£0.64. Stock is down 39% over the past year. The company is forecast to post earnings per share of UK£0.089 for next year compared to UK£0.068 last year. Price Target Changed • Feb 16
Price target decreased by 11% to UK£1.21 Down from UK£1.36, the current price target is an average from 5 analysts. New target price is 74% above last closing price of UK£0.70. Stock is down 39% over the past year. The company is forecast to post earnings per share of UK£0.093 for next year compared to UK£0.068 last year. Price Target Changed • Feb 10
Price target decreased by 7.9% to UK£1.27 Down from UK£1.38, the current price target is an average from 6 analysts. New target price is 65% above last closing price of UK£0.77. Stock is down 34% over the past year. The company is forecast to post earnings per share of UK£0.093 for next year compared to UK£0.068 last year. Upcoming Dividend • Jan 26
Upcoming dividend of UK£0.016 per share at 6.0% yield Eligible shareholders must have bought the stock before 02 February 2023. Payment date: 03 March 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.3%). Reported Earnings • Dec 08
First half 2023 earnings released: EPS: UK£0.04 (vs UK£0.031 in 1H 2022) First half 2023 results: EPS: UK£0.04 (up from UK£0.031 in 1H 2022). Revenue: UK£179.1m (up 3.4% from 1H 2022). Net income: UK£12.2m (up 34% from 1H 2022). Profit margin: 6.8% (up from 5.2% in 1H 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Chairman Jonathan Bloomer was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Nov 09
Consensus EPS estimates increase by 19% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from UK£375.3m to UK£380.1m. EPS estimate increased from UK£0.10 to UK£0.12 per share. Net income forecast to grow 69% next year vs 12% growth forecast for Professional Services industry in the United Kingdom. Consensus price target down from UK£1.41 to UK£1.36. Share price fell 2.9% to UK£0.68 over the past week. Upcoming Dividend • Sep 01
Upcoming dividend of UK£0.033 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 70% and the cash payout ratio is 76%. Trailing yield: 4.9%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.5%). Duyuru • Jul 23
DWF Group plc Proposes Final Dividend for the Full Year Ended April 30, 2022, Payable on October 7, 2022 The Board of DWF Group plc has proposed a final dividend of 3.25 pence per share for the full year ended April 30, 2022, representing an increase of 8% on the final dividend paid last year and, taking the total dividend for the year to 4.75 pence, reflecting a pay-out ratio of 44%. This pay-out ratio reflects a progressive dividend in absolute terms, but retains a proportion of fiscal yea 2022 profits to invest in near-term growth opportunities. If approved by Shareholders at the forthcoming Annual General Meeting to be held on September 28, 2022, the final dividend will be paid on October 7, 2022 to all Shareholders on the register on September 9, 2022. Reported Earnings • Jul 22
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.068 (up from UK£0.12 loss in FY 2021). Revenue: UK£350.2m (down 13% from FY 2021). Net income: UK£20.3m (up UK£55.5m from FY 2021). Profit margin: 5.8% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 7.4%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Duyuru • May 28
DWF Group plc, Annual General Meeting, Sep 28, 2022 DWF Group plc, Annual General Meeting, Sep 28, 2022. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Chairman Jonathan Bloomer was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Jan 27
Upcoming dividend of UK£0.015 per share Eligible shareholders must have bought the stock before 03 February 2022. Payment date: 04 March 2022. The company is not currently making a profit and its cash payout ratio is 77%. Trailing yield: 3.8%. Lower than top quartile of British dividend payers (4.2%). Higher than average of industry peers (1.8%). Reported Earnings • Dec 11
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: UK£0.031 (up from UK£0.04 loss in 1H 2021). Revenue: UK£203.5m (up 3.8% from 1H 2021). Net income: UK£9.08m (up UK£20.7m from 1H 2021). Profit margin: 4.5% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 9.2% compared to a 11% growth forecast for the industry in the United Kingdom. Duyuru • Dec 10
DWF Group plc Provides Revenue Guidance for the Second Half of Fiscal Year 2022 DWF Group plc provided revenue guidance for the second half of fiscal year 2022. The strong trading in HY22 is expected to continue in the second half of FY22 as the legal sector enjoys a high demand for services, with the second half also expected to benefit from the normal second-half weighting of revenues. The Group remains on track to deliver in line with medium term guidance. Upcoming Dividend • Sep 02
Upcoming dividend of UK£0.03 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 08 October 2021. Trailing yield: 3.9%. Within top quartile of British dividend payers (3.8%). Higher than average of industry peers (1.7%). Recent Insider Transactions • Aug 07
Board Member recently sold UK£268k worth of stock On the 4th of August, Seema Bains sold around 263k shares on-market at roughly UK£1.02 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£604k more than they bought in the last 12 months. Reported Earnings • Jul 22
Full year 2021 earnings released: UK£0.12 loss per share (vs UK£0.054 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: UK£338.1m (down 5.2% from FY 2020). Net loss: UK£35.2m (down 341% from profit in FY 2020). Price Target Changed • Jun 08
Price target increased to UK£1.23 Up from UK£1.14, the current price target is an average from 7 analysts. New target price is 14% above last closing price of UK£1.08. Stock is up 67% over the past year. Recent Insider Transactions • Jun 08
Board Member recently sold UK£147k worth of stock On the 1st of June, Seema Bains sold around 137k shares on-market at roughly UK£1.07 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£118k more than they bought in the last 12 months. Duyuru • May 27
DWF Group plc (LSE:DWF) acquired Zing 365 Holdings Limited for £1.8 million. DWF Group plc (LSE:DWF) acquired Zing 365 Holdings Limited for £1.8 million on May 25, 2021. The consideration of £0.8 million payable in cash on completion, £0.8 million payable through the issuance of new shares subject to a phased release over a three year lock-up period and the assumption of £0.2 million in debt. The consideration is subject to working capital and net debt adjustments.
DWF Group plc (LSE:DWF) completed the acquisition of Zing 365 Holdings Limited for £1.8 million on May 25, 2021. Duyuru • May 26
DWF Group plc (LSE:DWF) acquired Bca Claims & Consulting Ltd for £2.2 million DWF Group plc (LSE:DWF) reached an agreement to acquire Bca Claims & Consulting Ltd for £2.2 million on May 25, 2021. The purchase consideration is payable in cash of which £0.9 million(CAD 1.5 million) is payable at completion and £1.3 million(CAD 2.2 million) is payable over 2 years following completion. In a related transaction, DWF Group acquired Zing 365 Holdings Limited for £1.8 million on May 25, 2021. As part of transaction a team of 25 will join DWF immediately. The transaction completion is expected to occur by 28 May 2021.
DWF Group plc (LSE:DWF) completed the acquisition of Bca Claims & Consulting Ltd on May 25, 2021. Duyuru • Mar 09
DWF Group plc Announces Closer of Operations in Melbourne, Sydney and Newcastle DWF Group plc issued the following update on current trading and some changes to its Australian footprint. Management has continued to review operations and performance levels to ensure all locations align with the Group strategy. The decision has been taken to rationalise the Group's Legal Advisory operations in Australia, with an orderly closure of those operations in Melbourne, Sydney and Newcastle. The Brisbane office and the Group's Connected Services operations in Sydney, Melbourne and Brisbane will be retained. These changes will enable a leaner Australian business to focus on institutional clients and core sectors, such as insurance, which have a stronger strategic fit for the Group and offer the best opportunity for sustainable and profitable growth, by integrating other products and services provided by Mindcrest and Connected Services. Subject to the formal consultation process which will be undertaken, the Group anticipates that the office closures will regrettably result in approximately 85 employees and 14 principal lawyers (partners) leaving the business. Damien van Brunschot will continue to lead the Australian business and will join the Group's Executive Board from 1 May as previously announced. Duyuru • Dec 30
DWF Group plc Announces Resignation of Vinodka (Vin) Murria as Independent Non-Executive Director, Member of Audit, Risk, Remuneration and Nomination Committees DWF Group plc announced that Vinodka (Vin) Murria, Independent Non-Executive Director, has decided to resign from the Board of DWF Group plc with immediate effect. She will also step down as a member of the Company's Audit, Risk, Remuneration and Nomination Committees at the same time. Vin has decided to step down in order to give her more time to pursue new business opportunities in the technology arena. Is New 90 Day High Low • Nov 05
New 90-day high: UK£0.88 The company is up 36% from its price of UK£0.65 on 07 August 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.45 per share. Is New 90 Day High Low • Oct 21
New 90-day high: UK£0.75 The company is up 17% from its price of UK£0.64 on 23 July 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.38 per share. Duyuru • Oct 17
DWF Group plc to Report First Half, 2021 Results on Dec 10, 2020 DWF Group plc announced that they will report first half, 2021 results on Dec 10, 2020 
