Knights Group Holdings PLC Trading Update & Notice of Results (1233U)

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RNS Number : 1233U

Knights Group Holdings PLC

21 November 2019

Knights Group Holdings plc

("Knights", the "Company" or the "Group")

Trading Update & Notice of Results

Knights, one of the UK's fastest growing legal and professional services businesses, today provides a trading update for the half year ended 31 October 2019.

The Board is pleased to report that the Group has delivered another strong performance in the first half year of the financial year, in line with market expectations. This performance reflected further growth from our prior year acquisitions combined with a double digit increase in organic revenue, aided by strong recruitment.

The first half of the year was characterised by a period of investment to support ongoing growth for the Group. A net 43 new fee earners were recruited in the first half, compared to 46 net recruits for the whole of the last financial year, alongside the recruitment of support staff. In addition, the Company has relocated into larger offices in Manchester, positioning the Group well to achieve further growth in line with its strategy to focus on key markets outside London.

The Company will next provide an update on trading when it announces its half year results on 15 January 2020.

David Beech, CEO, commented:

"We continue to make excellent progress toward the 2020 targets we set out at IPO. The recent acquisition in Birmingham has expanded our geographic base and provides an exciting platform for growth, following on from the significant presence we are building in Manchester.

"I am also encouraged by the Group's continued momentum in successfully recruiting high calibre fee earners into our business, which provides a strong foundation for further growth into the full year and beyond."

Ends

Enquiries

 
 Knights 
 David Beech, CEO                          via MHP Communications 
                                          ----------------------- 
 Numis (Nominated Adviser and Broker) 
 Stuart Skinner, Kevin Cruickshank, 
  Michael Burke                                  [phone] 
                                          ----------------------- 
 MHP Communications (Media enquiries) 
 Andrew Jaques, Katie Hunt, Rachel Mann          [phone] 
                                                 [e-mail] 
                                          ----------------------- 
 

Notes to Editors

Knights is a fast-growing, legal and professional services business, ranked within the UK top 100 largest law firms by revenue. Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012 and has since grown rapidly. Knights has specialists in all of the key areas of corporate and commercial law so that it can offer end-to-end support to businesses of all sizes and in all sectors. It is focussed on key UK markets outside London and currently operates from nine offices located in Birmingham, Cheltenham, Chester, Derby, Leicester, Manchester, Oxford, Stoke and Wilmslow.

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November 21, 2019 02:00 ET (07:00 GMT)