The Review, which once again reflects a year of strong growth for Davis Langdon, highlights the firm’s strategy that is aimed at meeting the changing demands of both clients and the market. The approach incorporates a new leadership and organisational structure designed to enable the firm to focus even more effectively on market opportunities that require ever more specialist knowledge and ability.
It also provides an overview of financial performance for the past year, which shows overall growth of 28% across the EME region from £154m to £197m, whilst worldwide revenues increased by 35% to £261m (US$518m). A full set of the firm’s financial accounts for 2007-8 are available to download.
On the people side, staff numbers increased by 27% with twenty-one candidates admitted to the partnership during the year. Over £2m was invested in training with Davis Langdon’s APC pass rate of 82.8% surpassing the national average by 15.8%.
The firm invested in both technology and its working environment with the former including the introduction of SAP to enhance business systems across the firm. In addition, around 70% of Davis Langdon people have moved offices or have had their offices upgraded in the last two years.
The Middle East – where Davis Langdon is currently celebrating its 60th anniversary in the region – has shown tremendous growth with turnover doubling in the current year and a new office has been opened in Abu Dhabi. New offices have also been opened in Zagreb and Moscow.
In the UK Davis Langdon completed the acquisition of Mackenzie Partnership in Scotland, which created the largest project and cost management consultancy in Scotland.
Senior Partner Rob Smith comments:
“2007/08 was a very successful year, but we are now faced with very tough markets in the UK and Ireland. Overall the business is in good shape and we are well placed to tackle the opportunities that exist even in this market, particularly in Eastern Europe, Russia and the Middle East with a number of our people from the UK and Ireland relocating. This may mark a permanent shift in the centre of gravity of our business.
“Our focus remains as ever on our people, with significant investment on training and improving office environments, whilst also improving our internal systems. It is for this reason that I am confident that we have a great team with the capability and the overarching strategy to secure the revenue even in this market that will see us through the tough times we will encounter over the next couple of years.”
