Knights' profits rise as takeovers boost progress

A professional services firm says it is primed for further growth after major acquisitions boosted profits.

Knights saw pre-tax profit rise 30.4 per cent to £9 million in the half-year to October 31, with revenues 5.4 per cent better off at £79.4 million.

Bosses praised the UK-wide operator’s expansion model for the stronger performance, citing the impact of a recent deal for West Midlands-based Thursfields Legal and stronger-than-expected revenues from agreements to buy Baines Wilson, St James' Law and Meade King.

Thursfield Legal has added offices in Worcester, Kidderminster, Solihull and Birmingham to Knights’ stable, with officials revealing Cumbrian law firm Baines Wilson, Newcastle’s St James’ Law and Bristol law company Meade King – which each joined Knights in 2023 – are “delivering good organic growth opportunities”.

They also highlighted the potency of the firm’s “pioneering” corporate model, which continues to attract “professionals from leading regional and national firms” and helped secure 23 senior fee earners during its latest six-month reporting period.

Hailing Knights’ progress, David Beech, chief executive of the business, whose services cover banking, data protection, dispute resolution, real estate and tax, said: “We have delivered a strong performance in the first half, supported by strong recruitment, significant client wins, contributions from prior year acquisitions and excellent cost discipline.

“The second half of the year has started in line with our expectations, with important recent client wins and continued recruitment momentum, underpinning our confidence in delivering further organic growth in the second half. 

“We have a good pipeline of further hires for the second half, and this positive momentum, together with our continued focus on operational excellence, positions us well for delivering full-year profits in line with expectations.”

Knights’ services also include debt advisory, housing and regeneration, intellectual property and restructuring and insolvency support.

Its offices stretch across the UK, from Carlisle, Newcastle and Stockton in Cumbria and the North East, to Leeds, Sheffield and York in Yorkshire.

It has further bases in Birmingham, Brighton, Cheltenham, Chester, Leicester, Nottingham, Oxford, Portsmouth, Stoke, Weybridge and Wilmslow.

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