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KEYS Keystone Law Group Plc

586.00
1.00 (0.17%)
04 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Keystone Law Group Plc KEYS London Ordinary Share
  Price Change Price Change % Share Price Last Trade
1.00 0.17% 586.00 13:38:41
Open Price Low Price High Price Close Price Previous Close
585.00 585.00 586.00 586.00 585.00
more quote information »
Industry Sector
HOUSEHOLD GOODS & HOME CONSTRUCTION

Keystone Law KEYS Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
12/09/2024InterimGBP0.06219/09/202420/09/202411/10/2024
18/04/2024FinalGBP0.12513/06/202414/06/202421/06/2024
14/09/2023InterimGBP0.05821/09/202322/09/202313/10/2023
14/09/2023SpecialGBP0.12521/09/202322/09/202313/10/2023
24/04/2023FinalGBP0.10915/06/202316/06/202307/07/2023
15/09/2022InterimGBP0.05222/09/202223/09/202214/10/2022
28/04/2022FinalGBP0.11216/06/202217/06/202208/07/2022
28/04/2022SpecialGBP0.116/06/202217/06/202208/07/2022
16/09/2021InterimGBP0.04523/09/202124/09/202115/10/2021
29/04/2021FinalGBP0.10610/06/202111/06/202109/07/2021
14/09/2020InterimGBP0.06624/09/202025/09/202016/10/2020

Top Dividend Posts

Top Posts
Posted at 16/9/2024 18:12 by maddox
T-Raider,

KEYS have ascended into a larger company tax bracket that requires Corp Tax paid in the year - so they've been clobbered for this year and half of last year. So, cash position has suffered.

Apart from that all good and they are guiding a small beat for the full-year.
Posted at 12/9/2024 09:13 by t-raider
Results ok.. divi up, but no special divi this time. Steady as she goes...
Posted at 11/9/2024 11:34 by t-raider
Results tomorrow.. hoping for continued growth and a special divi on top of the interim one. Fingers crossed.
Posted at 22/4/2024 23:20 by maddox
Great results that reveal the attractive business model. The key growth driver is the recruitment of high calibre lawyers – 8.5% growth in Principal Lawyers in FY24. Revenue growth of 15%, with gearing and margins widening, translated into PBT growth of 23%. However, this translated into after tax eps growth of 13% - held back due to the tax rate increasing from 19% to 25%.

Revenue also benefitted from revenue per Principal growing 10%. Net Interest income of £961k on client funds was a new line of revenue generated by the current high interest rates.

This firm is highly cash generative with a 96% conversion ratio and has plenty of capacity to increase the future dividend pay-out. On a historic basis KEYS paid 30.8p dividends, including the Special Dividend a c.4.6% yield.

The quality of the new intake of lawyers looks particularly good – this enhances the firms’ reputation and attracts more high-quality lawyers. KEYS has been the trail blazer of the platform model, but it is now gaining in popularity with circa 50 other firms emulating their platform model with some 3.5k lawyers. KEYS believe that their position at the lead of this growing trend is advantageous for recruitment and future growth.

The Outlook statement is also positive, ‘2025 has started well. Our lawyers remain busy and early recruitment activity provides us with confidence in the year ahead.’

KEYS is a capital light, growth firm and prodigious cash generator.
Posted at 17/4/2024 17:39 by sharesoc
We're hosting a SIGnet Follow-Up Meeting on 8/5/24 at 7pm to analyse KEYS' Full Year Results presentation with IMC. SIGnet members can register here:
Posted at 21/2/2024 07:16 by tkamp
Strong update from KEYS. Ending the year with 432 principals was ahead of my forecasts. Numbers imply that revenue-per-principal remained robust in H2 (while I was fearing a slowdown). I am pretty optimistic the hiring environment for them has shifted materially and that the number of principals will continue to grow at a rate of 7-10% per year. Add on that revenue/principal growth of perhaps 3-5% and the company should definitely be able to hit annual earnings growth of 10-15% for many years to come. This company always delivers
Posted at 18/9/2023 09:55 by maddox
Great to see KEYS have rediscovered their ability to recruit lawyers to their platform. To have an 'FY 2024 outlook comfortably ahead of current market expectations' is wonderful in the current economic gloom. This underlines the uncorrelated nature of legal services sector as an investment proposition. Positive potential read-across to other legal firms with 12.2% increase in client billing. It would be useful to get a more detailed understanding of the sub-sector drivers to the increased billing.

More specifically, KEYS attractive business model shines through as this 14.9% growth in revenue translates into a 29.3% increase in PBT to £5.3 million (1H23: £4.1m) and 16.2% increase in basic eps 12.2p (1H23: 10.5p). The capital light nature of the business then generates strong operating cash conversion of 113.3%.
This high gearing is a huge plus point.

Regards Maddox
Posted at 14/9/2023 17:25 by ny boy
I like, not many Companies debt free in an environment of higher rates and higher for longer, not surprised the results were well received. I’ve taken a position, see how recovery plays out this year and into ‘24

Strong operating cash conversion at 113.3% with cash generated from operations of GBP6.3 million (H1 2023: GBP4.9 million).
-- The Group remains debt-free with net cash of GBP11.3m (H1 2023: GBP7.5m)
-- Declared interim ordinary dividend of 5.8p (H1 2023: 5.2p) and special dividend of 12.5p
Posted at 24/4/2023 09:55 by maddox
Very solid results - beating the market analyst consensus forecasts. Highlights:

>> Revenue £75.3 million (2022: £69.6 million) growth of 8.1%;

>> PBT of £8.4 million (2022: £8.4 million);

>> Adjusted basic EPS of 24.2 pence, up 2.5% from 23.6 pence;

>> Cash conversion at 96.5% £9.3 million (2022: £10.0 million); debt-free;

>> Final dividend of 10.9p (2022: 11.2p), bringing total DPS for the year to 16.1p (2022: 15.7p).

Lawyer recruitment - the key growth driver - is under pressure in a highly competitive market. Hopefully, the return to face-to-face events and networking will help recruitment recover.
Posted at 28/4/2022 14:50 by maddox
Investors Chronicle KEYS Buy 705p 'Keystone stands out from legal crowd'
'Law firm’s clever business delivers strong growth, in spite of tight jobs market'

The journalist Jemma Slingo says 'Wage inflation is a big problem for law firms, whose success is rooted in the quality of their solicitors. So far, however, Keystone seems to have dodged the worst.'

Surely, but tell me if I'm wrong, KEYS benefits from wage inflation - as they don't pay their Lawyers - they take a slice of their income.

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