Follow us

DSW Capital (DSW)

DSW Capital (DSW) Interim results 2024 presentation - November 23

29 November 2023

DSW Capital CEO, James Dow, and Deputy CEO, Nicole Burstow present results for the six months to 30 September 2023, followed by Q&A.

James Dow, CEO
00:16 – Introduction
02:19 – Investment case

Nicole Burstow, Deputy CEO
03:14 – Current service lines
05:18 – Licensing model
10:07 – Central initiatives
13:01 – H1 FY24 highlights
15:54 – Income statement
18:02 – Balance sheet
18:48 – Cashflow statement
20:01 – KPI’s

James Dow, CEO
22:16 – Growth opportunities
23:40 – Service line targets
25:42 – Recruitment pipeline
27:01 – ESG
27:33 – Summary and Outlook

DSW Capital, owner of the Dow Schofield Watts brand, is a profitable, mid-market, challenger professional services network with a cash generative business model and scalable platform for growth. Originally established in 2002, by three KPMG alumni, DSW is one of the first platform models disrupting the traditional model of accounting professional services firms. DSW now operates licensing arrangements with 25 licensee businesses with 106 fee earners, from 12 offices across the UK. These trade primarily under the Dow Schofield Watts brand.

DSW’s vision is for the DSW Network to become the most sought-after destination for ambitious, entrepreneurial professionals to start and develop their own businesses. Through a licensing model, DSW gives professionals the autonomy and flexibility to fulfil their potential. Being part of the DSW Network brings support benefits in recruitment, funding and infrastructure. DSW’s challenger model attracts experienced, senior professionals, predominantly with a “Big 4” accounting firm background, who want to launch their own businesses and recognise the value of the Dow Schofield Watts brand and the synergies which come from being part of the DSW Network.

DSW aims to scale its agile model through organic growth, geographical expansion, additional service lines and investing in “Break Outs” (existing teams in larger firms). The Directors are targeting high margin, complementary, niche service lines with a strong synergistic fit with the existing DSW Network.

Listen on the go


PIWORLD provides investors with the latest news and insight about listed companies and their management through either live or recorded investor presentations, management interviews, Capital Market Days and corporate overviews, together with interviews with leading fund managers or esteemed private investors in the small cap world.

Our Services

PIWORLD delivers high quality audio and video content to present anything from full-year & interim results to Capital Markets Days and corporate overviews. We bridge the gap between listed companies and the private investor community, who drive the share price and provide liquidity, providing a time and cost effective medium to reach this diverse and important audience.