14th Jul 2021 10:25
(Alliance News) - Knights Group Holdings PLC on Wednesday reported an annual profit rise, as the legal and professional services firm enjoyed a strong second half bounce helped by new acquisitions.
Knights is focussed on key UK markets outside London and currently operates from 16 offices.
It posted revenue for the year ended April 30 of GBP103.2 million, a 39% rise from GBP74.3 million the previous year.
The pretax profit for the year rose 36% to GBP5.5 million from GBP4.1 million.
Given the cost saving measures taken by Knights during the year, it decided against a dividend. In the last financial year, it paid a 1.10 pence per share payout.
"We have delivered a robust performance during the year, with a rapid return to stronger levels of organic growth in the second half, complemented by high calibre acquisitions that further elevate our position as a market leader outside London," said Chief Executive David Beech.
Pretax profit in the second half alone amounted to GBP6.6 million, Knights noted, faring better than a GBP1.1 million loss in the first half.
Looking ahead, it said momentum has continued in the new financial year.
Shares in Knights were down 2.9% at 432.09 pence each in London on Wednesday morning.
By Amrit Sahota; [email protected]
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