Knights Group FY revenues projected to exceed consensus estimates

Legal and professional services business Knights Group said on Wednesday that full-year revenues were expected to be in excess of consensus estimates of £100.8m, representing a minimum year-on-year increase of 36%.

Knights stated its solid revenue growth reflected 8% organic growth for the second half of the year despite the extended UK-wide lockdown during the last quarter of the financial year.

Underlying pre-tax profits were anticipated to be "moderately in excess of market consensus" of £18.0m, representing an increase of at least 32% year-on-year, reflecting "good organic growth" in the core business and the successful integration of acquisitions completed in 2020 and 2021, with a "particularly strong" margin performance achieved in the second half as momentum returned.

Knights added that it remains committed to "a long-term progressive dividend policy", with an update to be provided on the release of its full-year results on 14 July.

Chief executive David Beech said: "Our robust full-year performance is testament to the well-balanced and highly diversified business we have built over a number of years.

"With a well-invested platform and confidence in the group's strategy, we look forward to making good progress in the new financial year as we continue to execute on the acquisitive and organic opportunities we see ahead."

As of 1005 BST, Knights Group shares were down 0.25% at 432.90p.