Knights Share Discussion Threads

[theprovosts] 22/3/2022 08:40

PBT of c.£18m, mcap of £167m. Decent value around here?

[wad collector] 14/1/2022 18:56

IC article today , FWIW, cautions the rising wage costs but with the dividend resumption comes up a HOLD.

[tomps2] 13/1/2022 13:09

KGH interim results presentation - January 2022

Knights CEO, David Beech and CFO, Kate Lewis present the interim results for the period ended 31st October 2021, to analysts.

Watch the video here:

Or listen to the podcast here:

[woodyjmw] 12/1/2022 19:08

Results were ok, in line with expectations, but little reaction, perhaps it will just flatline from here.

[woodyjmw] 30/12/2021 17:29

Half year trading results on the 11th Jan, should determine which way this will go?

[woodyjmw] 20/12/2021 19:51

Which way is this one going to go, multiple decreasing highs and increasing lows over the last couple of years…with increasing revenues and profit, should move up?

[km18] 24/11/2021 15:05

Knights Group published a trading update for the 6 months to end-October 2021 this morning. Revenue was up 29% to £59.7m, underlying adjusted PBT was up 26% to £7.6m, PBT margin was steady at 13%. Growth has been both organic and from acquisitions, a recently announced extended £60m Revolving Credit Facility provides further flexibility for the Group to selectively execute on its pipeline of acquisitions. The Group’s strategy is to become the leading legal and professional services business outside London. Valuation is reasonable, mid-range for the Professional & Commercial Services sector. Share price lacks momentum for now, it has been trading sideways for 2 years now. There is no rush to buy here. But given expected growth to come, share price should also benefit over the next couple of years. KGH is a share worth monitoring for now....from WealthOracleAM

[wad collector] 27/10/2021 19:01

This BB is hot , but I guess with a P/E approaching a hundred , it is not likely to double in price so therefore not very interesting?

[tomps2] 27/7/2021 13:17

Knights Group (KGH) FY21 results presentation to analysts

David Beech, CEO and Kate Lewis, CFO present the FY21 results for the period ended 30th April 2021.

Watch the video here:

Or listen to the podcast here:

[tradertrev] 28/1/2021 18:29

CEO selling 19% of the company as corporate broker waives 3 year lock-in 6 months early to meet institutional demand. Well played.

[d40eq6] 22/1/2021 19:21

Smart move appearing on PI World. Good way to engage with smaller investors.

[tomps2] 22/1/2021 09:12

#KGH H1 presentation to analysts followed by Q&A, given 19.1.21.

Video:

Podcast:

[capitalist] 24/11/2020 09:03

I am thinking of taking a small holding. I noted today's RNS announced:
Investor event
Knights is holding a virtual Investor Event at 14:00 today via webcast. No new material information will be disclosed during the event. If you are interested in attending, please register by emailing [e-mail] or by calling 020 3128 8168

[lord mandelbaum] 12/10/2020 14:57

Also watching, acropolis, have KGH earmarked as a company I want to buy into and hold as their model and execution thus far has been first class.

Agree the action is disappointing if you're a holder. Will it get to the 200 MA which is currently about 360p? Very light volume so absolutely feasible but either way, think i'll wait for some concrete news before taking the plunge.

[acropolis1728] 08/10/2020 15:47

I know I am talking to myself but methinks not all is well.

[acropolis1728] 29/9/2020 08:35

Ince have issued a statement today saying that UK offices struggling with real estate and corporate activity down. 50 being made redundant. It is difficult to see that KGH are not facing the same thing and are being very tight lipped about how covid is effecting the bottom (and top) line. Price coming off the boi. Back to around 370?

[d40eq6] 02/9/2020 22:43

At this rate we will back to a fiver before we know it....

[acropolis1728] 24/8/2020 15:01

Annual meeting announced for 21st September.

[saucepan] 21/8/2020 13:38

A nice move (so far) today. I wonder what has prompted it; anyone any knowledge?

[acropolis1728] 20/8/2020 11:08

d40eq6

Totally agree that the model is different save that they both see growth by acquisition as key aim but one of course has an international footprint. Also agree that no sensible 'read across" is possible. The point though is the complete lack of transparency on the effect of covid on Q1 by sector in its results which they must have known. They airily point to an uptick in disputes and insolvencies (but the law has changed on the latter for the time being. The acquisitions done in the past couple of years have PBTs of between 10 and 20%. Thats tight. All were expected to be cash generating in their first year and I cant see where that is confirmed in their results.

I have no skin in the game and time will tell. But for me the shares are defying gravity.

[d40eq6] 19/8/2020 18:28

The model of KGH is different to INCE. Their respective financial statuses are not comparable. The markets they operate in are radically different. The locations of their offices are totally different. You simply cannot do any sensible read across between these two firms.

[acropolis1728] 19/8/2020 15:16

But whoever is buying is clearly not on this site. It is so devoid of comment and empty that my posts are almost creating an echo.

[acropolis1728] 19/8/2020 15:14

tradertrev - I agree. This only came onto my radar because people were using it as a benchmark to measure Ince's position saying the latter were undervalued compared to this. Ince really gave up some detail in their Final Results on sectors, percentages and were pretty forthcoming in their analysis. They are being punished for it in the sense that I think they expected a bump in the share price. Yet KGH sails on serenely. It may well see an up tick in work going into Q3 but what has happened in Q1 and Q2 will define the year. Very difficult to make up the time that was lost. The firm are offering nothing on that at all. I find it very difficult to think that a UK based firm with the profile this has, has not seen a reduction in work and pressure on receivables. All firms focus on lock up but if people stop paying because of their own cash flow issues then lock up will slip.

[tradertrev] 17/8/2020 18:05

The company has fantastic financial PR.
Just my opinion but the last trading statement was wonderfully obfuscating. Some weak areas, some good, nothing about the relative importance/size of them, bland positive comments about general matters that aren't at all related to current trading.

[saucepan] 17/8/2020 17:28

acropolis1728, I don't know whether this helps:

Investors Chronicle printed a piece on 22 July, under the heading "Knights forges ahead despite Covid-19". Its summary view was as follows:

"While weaker economic conditions will see some practice areas suffer, Knights expects higher demand for litigation and insolvency services in the months ahead. This crisis will also likely throw up attractive M&A opportunities and aid recruitment as lawyers shy away from the financial risk of buying into a partnership. Tight control of ‘lock-up days’ – the time taken to be paid for completed work – means cash generation should remain resilient. Buy."

No advice intended on my part.