DAC Beachcroft (DACB) has notched its sixth consecutive year of turnover and profit growth, the firm’s latest financial results show, while also announcing that managing partner David Pollitt has secured a second term at the helm following an uncontested leadership election.
Revenue at the firm grew 6% to £258m, up from £243m last year, while profit before tax increased 7% to £56m. Profit per equity partner also grew, up a modest 3% to £590,000. Meanwhile, the firm improved its net cash position to £8m, having put in place ‘significant liquidity retention measures in response to the Covid-19 crisis’.
