DSW Capital

DSW · AIM · Financial Services · mcap £11m · 45.5p 2 open situations →

DSW Capital runs a network of licensed professional-services businesses, mainly corporate finance and due diligence, and takes a share of their fees. It has added a legal arm through DR Solicitors and is launching DSW Legal.

Target	Promise	Said	Status
2025
FY25	FY25 network revenue c.£23.0m and adjusted pre-tax profit c.£1.45m	7 Nov 2024	✓ Kept
	How it developed 7 Nov 2024 Said “FY25 Consolidated Network Revenue (guidance) c.£23.0m; Adjusted Pre-Tax Profit (guidance) c.£1.45m” 25 Nov 2024 ✓ Kept “FY25 consolidated network revenue is expected to be c.£23.0m (FY24: £16.0m) - a 43.8% increase on prior year” Result FY25 network revenue £25.8m, ahead of expectations; adjusted PBT £1.4m, roughly in line. “FY25 consolidated network revenue is expected to be c.£23.0m (FY24: £16.0m) - a 43.8% increase on prior year”25 Nov 2024 · Half-year Results
1 Apr 2025	Shrutisha Morris becomes Chief Executive on 1 April 2025	25 Nov 2024	✓ Kept
	“as of 1 April 2025, Shru will become Chief Executive of DSW Capital” How it developed 25 Nov 2024 Said “as of 1 April 2025, Shru will become Chief Executive of DSW Capital” 24 Nov 2025 ✓ Kept “It is an honour to lead this business, as I have since April 2025, and to succeed James Dow, Executive Director and Co-Founder of a pioneering brand that...” Result Later announcements continue the planned transition; James Dow moves to non-executive director from January 2026. “It is an honour to lead this business, as I have since April 2025, and to succeed James Dow, Executive Director and Co-Founder of a pioneering brand that supports entrepreneurship and offers a viable and distinguished alternative for top-quality professionals in the UK.”24 Nov 2025 · Half-year Results “From 1 January 2026, James will transition to the role of Non-Executive Director.”24 Nov 2025 · Half-year Results
2026
FY26	FY26 total income c.£6.2m, adjusted EBITDA c.£1.6m, adjusted PBT c.£1.3m (revised guidance)	16 Mar 2026	✓ Kept
	How it developed 16 Mar 2026 Said “Total Income guidance c.£6.2m; Adjusted EBITDA guidance c.£1.6m; Adjusted profit before tax guidance c.£1.3m” 28 Jul 2026 ✓ Kept “Total income (£'000) \| 6,266 \| 4,965 \| 2,431” Result FY26 revenue £6.17m, adjusted EBITDA £1.67m, adjusted PBT £1.31m, in line with revised expectations. “Total income (£'000) \| 6,266 \| 4,965 \| 2,431”28 Jul 2026 · Audited Final Results “Adjusted EBITDA (£'000) \| 1,667 \| 1,787 \| 626”28 Jul 2026 · Audited Final Results