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Keystone Law Group PLC on Thursday reported its half-year revenue and pretax profit has risen, as the firm expects its full-year results to come in ahead of market expectations. The London-based provider of legal services said revenue for the six months ended July 31 increased by 8.3% on-year to £46.5 million from £42.9 million. Pretax profit rose 3.8% to £5.5 million from £5.3 million. Keystone declared an interim dividend of 6.20 pence per share, rising 6.9% on-year from 5.80p. During the six-month period, Keystone recruited 30 new principals, increasing the total number of principals in the firm to 442. It reported that total fee earners increased to 557 from 549 in January. The firm said it was ‘confident’ that full-year revenue and adjusted pretax profit would be delivered ‘slightly ahead’ of current market expectations. Keystone said current market expectations included revenue of £93.3 million and adjusted pretax profit of £11.5 million. Adjusted pretax profit for the period ended July 31 was £6.1 million, up 7.2% on-year from £5.7 million. Chief Executive Officer James Knight said: ‘Keystone’s position in the market continues to strengthen and I am delighted that our ongoing operational excellence has been reflected in our financial performance. The business has delivered well across all our operational [key performance indicators], reflecting the ongoing growth in demand for the benefits that Keystone provides.’ Shares in Keystone Law were up 1.5% at 670.00 pence each in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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