Knights Group Holdings (KGH)

Sector:

Support

Index:

FTSE AIM 100

140.00p
   
  • Change Today:
      15.00p
  • 52 Week High: 450.00
  • 52 Week Low: 92.60
  • Currency: UK Pounds
  • Shares Issued: 83.89m
  • Volume: 1,475,620
  • Market Cap: £117.45m
  • RiskGrade: 162

Knights Group performing well despite costs of expansion

By Josh White

Date: Tuesday 23 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Legal and professional service provider Knights Group reported first-half revenue of £59.7m in a trading update on Tuesday, representing year-on-year growth of 29%.
The AIM-traded firm said its underlying adjusted profit before tax was £7.6m for the six months ended 31 October, up 26% over the first half of the 2021 financial year, as it maintained its underlying profit before tax margin of 13%.

It said its cash conversion remained "excellent", as it maintained an "industry-leading" lockup of 99 days, underpinned by debtor days of 33, coming despite the integration of new recruits and recent acquisitions.

Net debt at period end totalled £23.1m, up from £21.1m at the start of the period, after £5.8m of acquisition consideration and related costs.

Operationally, Knights said its strong recruitment momentum had been maintained, with the group continuing to attract "high calibre talent", the majority from top-50 law firms.

The board said it had successfully integrated the acquisitions of Keebles and Mundays, strengthening its footprint in the Yorkshire and South East regions.

Since the period ended, Knights had further expanded its footprint with the acquisition of Archers, a full-service independent law firm operating in the Teesside area, with early signs indicating a "strong cultural fit" across the business.

The company said the acquisition provided a platform for further organic growth in the North East - a new region for Knights, and one currently undergoing "significant" public and private investment.

It said its recently-announced extended £60m revolving credit facility provided further flexibility to selectively execute on the firm's pipeline of acquisitions, in line with its strategy to become the leading legal and professional services business outside London.

"We are delighted to report another strong period of profitable growth, during which we have maintained the excellent discipline of financial management that is central to our culture," said chief executive officer David Beech.

"With continued momentum in recruiting, we look forward to the second half with confidence and we are well placed to continue to selectively execute acquisition opportunities to further strengthen our position in key legal services markets outside London."

Knights said it would provide a further update on trading with its half-year results on 11 January.

At 0928 GMT, shares in Knights Group Holdings were up 1.45% at 419p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KGH Market Data

Currency UK Pounds
Share Price 140.00p
Change Today 15.00p
% Change 12.00 %
52 Week High 450.00
52 Week Low 92.60
Volume 1,475,620
Shares Issued 83.89m
Market Cap £117.45m
RiskGrade 162

KGH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.37% above the market average57.37% above the market average57.37% above the market average57.37% above the market average57.37% above the market average
84.31% above the sector average84.31% above the sector average84.31% above the sector average84.31% above the sector average84.31% above the sector average
Price Trend
94.16% below the market average94.16% below the market average94.16% below the market average94.16% below the market average94.16% below the market average
96.49% below the sector average96.49% below the sector average96.49% below the sector average96.49% below the sector average96.49% below the sector average
Income
35.29% above the market average35.29% above the market average35.29% above the market average35.29% above the market average35.29% above the market average
46.48% above the sector average46.48% above the sector average46.48% above the sector average46.48% above the sector average46.48% above the sector average
Growth
72.73% above the market average72.73% above the market average72.73% above the market average72.73% above the market average72.73% above the market average
79.44% above the sector average79.44% above the sector average79.44% above the sector average79.44% above the sector average79.44% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 4
Sell 0
Strong Sell 1
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

KGH Dividends

  Latest Previous
  Interim Interim
Ex-Div 17-Feb-22 13-Feb-20
Paid 17-Mar-22 16-Mar-20
Amount 1.46p 1.10p

Trades for 20-May-2022

Time Volume / Share Price
17:08 2,500 @ 140.00p
16:38 5,049 @ 140.00p
16:35 10,905 @ 140.00p
16:29 140 @ 140.25p
16:29 1,062 @ 141.00p

KGH Key Personnel

CEO David Andrew Beech
CFO Kate Louise Lewis
COO Richard Anthony King

Top of Page