LONDON (ShareCast) - (Sharecast News) - Legal and professional services business Knights Group said on Tuesday that revenues had surged in the six months ended 31 October despite the ongoing Covid-19 pandemic.
Knights expects interim revenues to have grown around 44% to roughly £46.0m, while gross margins were maintained at approximately 45%, despite a 15% impact on revenues from the pandemic.

The AIM-listed group, which cut net debt from £15.9m to £14.4m during the half, added that trading had continued to recover through September and October, reaching near pre-COVID levels as full salaries were resumed for employees on 1 November.

Knights also highlighted that it had not seen any "meaningful impact" from either the regional restrictions in October or the national lockdown in November

Chief executive David Beech said: "We have seen a strong recovery in activity levels since the sudden impact of COVID at the end of our last financial year. Our business is both well-positioned and resilient, which gives us confidence in our ability to navigate the current economic turbulence."

Separately, Knights announced it had acquired Exeter-based commercial law firm OTB Eveling for a total consideration of £2.1m.

As of 0935 GMT, Knights shares were up 3.06% at 438.0p.

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