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Knights Group Holdings PLC on Tuesday said profit and revenue increased in the first half of financial 2022, as its prior year acquisitions are ‘performing well’.
Staffordshire, England-based Knights Group is a legal and professional services business.
Knights Group reported an 18% increase in pretax profit to £9.0 million in the six months that ended October 31, up from £7.6 million the year before. Its profit margin maintained at 12.6%.
Knight’s revenue increased to £71 million, up 18% from £60 million. The group’s prior year acquisitions of law firms Keebles, Archers Law and Langleys have integrated and are performing well, Knights said. The sale of the non-core home property lawyers part of Langleys was completed in September 2022.
Knights said its focus on lock up has led to net debt of £35.6 million, up 23% from £28.9 million the prior year, after paying £7 million of acquisition consideration and related costs in the half year.
At the end of October, there was ‘significant’ headroom of £24.4 million against Knights’s Revolving Credit Facility of £60 million.
Knights Group shares were up 4.1% to 84.00 on Tuesday morning in London.
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