Knights 'set to charge on' after revenues increase

A national legal and professional services firm says it is primed for growth after its “differentiated model” helped deliver higher revenues.

Knights saw earnings increase 28 per cent to £207.7 million as underlying pre-tax profit jumped by a fifth to £33.2 million in the year to April 30.

Underlying earnings before interest, tax, depreciation and amortisation were 20 per cent better off at £51.5 million.

Bosses at the UK-wide operator say the numbers show the firm is “well positioned to continue its growth strategy”, with recruitment from the “best talent pools” set to be matched by “the healthiest pipeline” of acquisition opportunities “it has seen for some time”.

The bullish outlook comes as Knights – whose UK-wide office portfolio includes sites in Newcastle, Leeds, Birmingham, Nottingham and Oxford – continues talks to buy London and Hampshire operator Moore Barlow LLP.

The business – which was recently headline sponsor of Bdaily publisher NET’s annual NET 250 event – previously sealed deals for Essex-based Birkett Long, Kent and Sussex’s Rix & Kay Solicitors LLP, Thursfields Legal and IBB Law.

David Beech, chief executive, said: “I’m pleased to report we grew revenues by 28 per cent year-on-year, doubling them over the last five years.  

“The benefits of our differentiated model are demonstrated in our results, with double-digit organic growth in the second half coupled with strong performances from recent acquisitions.

“Having made a positive start to the current financial year, we look forward to delivering continued organic growth, complemented by our value enhancing acquisition strategy in the current year and beyond.”

The business also has offices in Sheffield and York, and said its progress was aided by work across the Broad Acres county.

Projects included advising on the £11 million sale of The Ridings Shopping Centre, in Wakefield, to the city’s council, and support for seven Yorkshire Trading Company store acquisitions.

Knights’ office estate stretches across the UK, with bases in towns and cities including Brighton, Carlisle, Leicester, Portsmouth, Stoke and Stockton-on-Tees.

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