Law firm doubles profits after acquisitive year

Revenues and profits at Derby and Leicester-based law firm Knights have soared, it announced this morning (21 May).

Knights says it expects its full-year results to 30 April to show revenue climbing by just over 50% to £52.4m, while profit before tax is likely to rise by 102% to £9.7m.

The news comes almost a year after the listed firm bought Leicester practice Spearing Waite – one of four acquisitions during the year.

David Beech, chief executive of Knights, said: “We are pleased to announce this strong performance in our first full year as a listed company on AIM. We continue to deliver on our strategy, both organically and through selective acquisitions, resulting in strong, cash generative, profitable growth.

“Our successful recruitment drive and selective acquisitions during the year also provide us with a strengthened platform delivering high quality services through a results-driven and collaborative culture with more diversified expertise across a broader geographical base. We, therefore, look forward with confidence to the current year and beyond.”