Knights Predicts 50% Revenue Jump Following Expansive Year
The AIM-listed firm is set to release its full financial results in July.
May 21, 2019 at 04:26 AM
2 minute read
Knights CEO, David Beech
AIM-listed law firm Knights expects its revenues to have increased by more than 50% during the past 12 months, as it prepares for its first full-year financial results since it floated on the main market.
The firm has predicted that its turnover for the financial year to April 2019 will be no lower than £52.4m, which would mark a 50.6% increase compared to 2018, when the firm reported revenues of £34.8m.
In a statement, the firm attributed the predicted growth to a recruitment drive in the second half of the year, which increased the number of its fee-earners. The firm added that it expects new recruits to join in the coming months.
Knights CEO David Beech said in a statement: "We continue to deliver on our strategy, both organically and through selective acquisitions, resulting in strong, cash-generative, profitable growth.
"Our successful recruitment drive and selective acquisitions during the year also provide us with a strengthened platform, delivering high-quality services through a results-driven and collaborative culture with more diversified expertise across a broader geographical base. We therefore look forward with confidence to the current year and beyond."
This is Knights' first full year of trading following its listing on the London AIM market after it floated in June 2018. The firm is set to announce its official financial results on July 9.
During the last financial year, Knights made four law firm acquisitions: northwest firm Turner Parkinson in June 2018; Leicester's largest independent law firm, Spearing Waite, in October 2018; Leicester-based employment law specialist, Cummins Solicitors, in January 2019; and BrookStreet des Roches, which completed in April 2019.
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