Knights focuses on improvements as revenues hit £150m

Professional services group Knights has grown annual revenues to £150m and believes it remains well-positioned “to deliver further growth”.

The 6% increase in revenues is in line with expectations although much slower than previous years. Knights has doubled its revenues in four years, mostly through an aggressive acquisition strategy.

It expects its underlying pre-tax profits to be “at least £25.0m” in the year to April 30, which will be 16% higher than last year.

David Beech, chief executive of Knights, said: “Our people have delivered a good performance during the year.

“We continued to execute our growth strategy, recruiting high quality talent and driving operational improvements across the business, positioning us well to deliver further growth in FY25.”

At the start of the last financial year Knights bought Newcastle-based St James’ Square and Carlisle firm Baines Wilson.

In April, Knights supported a management buyout at Manchester-based sell-side advisory firm Convex through a joint venture deal.

Knights said it “is positioned well to consider selective acquisitions from its healthy pipeline of opportunities”.

Knights floated in 2018 at 145p-per-share, and more than trebled in value within two years. However its share price has been under significant pressure and reached a low of 61p last summer, before recovering. Last week it went above its IPO price for the first time in two years.