How law firm Knights saw revenues and profits jump over the past year

Listed law firm Knights saw both its revenues and pre-tax profit jump in the year ended April 30, 2021, as the business continued to expand its footprint including into Sheffield.

Knights has moved into the Majestic in Leeds.
Knights has moved into the Majestic in Leeds.

The legal giant said revenue increased by 39 per cent to £103.2m, up from £74.3m the previous year. Organic revenue picked up in the second half of the year for the firm to 10 per cent, recovering from a 15 per cent decline in the firt half as a result of Covid-19.

Knights also said that underlying profit before tax rose by 35 per cent to £18.4m, up from £13.6m the previous year.

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It completed four acquisitions in line with its strategy to be the leading legal and professional services business outside London. Amongst those acquisitions was Keebles, the Sheffield-based law firm.

The firm said it ontinued to invest in high quality office spaces in Birmingham, Leeds, Nottingham and York.

David Beech, CEO of Knights, said: "We have delivered a robust performance during the year, with a rapid return to stronger levels of organic growth in the second half, complemented by high calibre acquisitions that further elevate our position as a market leader outside London.

"Having reached critical mass following recent acquisitions, the group is increasingly attracting high calibre talent with strong client followings, good quality clients who recognise the value of our premium service, and legal service firms that would like to be part of a larger, diversified, forward thinking group.

"Looking forward, we expect that Covid-19 will only accentuate these opportunities for our resilient, well-invested, diversified and cash generative business in the highly fragmented and often under-invested market for legal services outside London."

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