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Knights sees annual profit 'slightly ahead' of market expectations.

By BFN News | 02:30 PM | Tuesday 21 May, 2019


Legal and professional services company Knights Group said it expected to beat profit expectations for the full year on the back of an at least 51% jump in revenue. Adjusted pre-tax profit was expected to double to £9.7m, which would represent growth 'slightly ahead' of market expectations, the company said. Revenue for the year through April was seen rising to not less than £52.4m, compared to 34.8m on year, driven by acquisitions and organic growth. Cash conversion had also been higher than normal, resulting in a year end net debt position of £14.1m that was 'significantly' better than market expectations of £17.8m. 'The group's strong organic growth during the year was in part driven by a successful recruitment drive in the second half of the year, which added to the number of fee earners and leaves us with a strong pipeline of new recruits expected to join in the coming months,' Knights Group said. At 2:30pm: (LON:KGH) Knights Group Holdings Plc Ord 0.2p share price was +11p at 294p Story provided by StockMarketWire.com

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