Law firm Knights, which has offices in Oxford and Cheltenham, has published its maiden full-year results since floating on the London Stock Exchange.
For the year ending April 30, profit before tax more than doubled to £9.8m. Revenue grew by 51% to £52.7m. Net debt of £14.1m as at April 30 2019 was £3.7m lower than expected (£26.3m at the same time last year).
Knights, which has eight offices in the UK, was admitted to the AIM market in June 2018 in a £28.1m IPO.
It made four significant acquisitions last year, including leading commercial law firm in Oxfordshire, BrookStreet des Roches in April 2019.
David Beech, CEO of Knights, said: “Our strong organic growth, combined with four high-quality acquisitions during the year, means we are now a more diversified business with strengthened positions in our key target markets.
“The Group has made a good start to the financial year and we have the team and financial resources in place to deliver our organic and acquisitive growth strategy as we scale up to be the leading legal and professional services business outside London.”
The Group’s main focus is on the UK’s secondary markets, offering ‘big city’ quality expertise from a regional cost base. Knights’ six other offices are in Chester, Derby, Leicester, Manchester, Stoke and Wilmslow.