20th May 2025 13:13
(Alliance News) - Knights Group Holdings PLC on Tuesday said it expects to report higher earnings for the 2025 financial year alongside an increase in senior fee earners at the business.
The London-based professional services company anticipates reporting revenue of GBP162.0 million in the year to the end of April, up 8.0% from GBP150.0 million in financial 2024.
It expects to report underlying pretax profit of GBP28.0 million, 11% higher than GBP25.3 million a year ago.
The firm said the number of senior fee earners joining the business "increased significantly" to 52 compared to 40 in the prior year, which it said reflects "strong momentum" in recruitment.
Net debt at the end of the year was GBP65 million, up from GBP35.2 million after GBP30 million cash paid for acquisitions.
Knights completed the acquisition of Thursfields Legal Ltd in September as well as its largest acquisition to date, IBB Law LLP, which completed in April.
Following a further acquisition after the end of the period, Knights said it "continues to consider selective acquisitions from its healthy pipeline of opportunities".
"During the year, Knights has made significant progress...I am particularly pleased with the uptick in fee earners joining the business during the year. As well as our scale, the reputation we have built for quality of service and a unique culture, allows us to recruit the highest quality talent to the business, which in turn, has driven this strong performance," said Chief Executive Officer David Beech.
"With the group experiencing a return to lower levels of churn in the second half of the financial year and positive momentum in the business continuing into the current year, we remain confident in delivering further growth in [financial 2026]," CEO Beech concluded.
Shares in Knights Group were down 2.1% to 166.00 pence in London on Tuesday afternoon.
By Michael Hennessey, Alliance News reporter
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