Law firm doubles profits in maiden results year

Law firm Knights, which has offices in Derby and Leicester, has published its maiden full year results since floating on the London Stock Exchange.

For the year-ending 30 April, the company saw profit before tax more than double to £9.8m, while revenues leapt by a half to £52.7m.

Knights was admitted to the AIM market in June 2018 in a £28.1m IPO. In October last year it made a shock move for Leicester-based Spearing Waite.

David Beech, chief executive of Knights, said: “I am delighted to report our first set of full year results as a listed business, in which we have delivered cash generative, profitable growth. Our strong organic growth, combined with four high quality acquisitions during the year, means we are now a more diversified business with strengthened positions in our key target markets.

“The Group has made a good start to the financial year and we have the team and financial resources in place to deliver our organic and acquisitive growth strategy as we scale up to be the leading legal and professional services business outside London.

“Our recent listing has already supported our ability to deliver that strategy by helping us to acquire four leading firms and we are now starting to see it benefit our ability to attract high calibre candidates into the business.”