Knights Group trades in line as acquisitions boost revenues

Legal and professional services business Knights Group delivered another strong performance in the first half, in line with market expectations.

Knights said its performance reflected further growth from its prior-year acquisitions and a double-digit increase in organic revenue, aided by strong recruitment.

The AIM-listed group highlighted that its first half was characterised by a period of investment to support ongoing growth, with 43 new fee earners recruited, compared to 46 recruits for the whole of last year.

In addition, the company relocated into larger offices in Manchester, leaving it well-positioned to achieve further growth in key markets outside London.

Chief executive David Beech said: "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."

As of 1320 GMT, Knights shares had slipped 1.21% to 327p.