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19 May 2021 | 09:16am
StockMarketWire.com - Legal and professional services business Knights said it expected profit and revenue for the full year to top market expectations following a strong recovery from the first-half pandemic impact.
Underlying pre-tax profit is expected to be moderately in excess of market consensus of £18.0 million, while revenue is expected to top market consensus of of £100.8 million, the company said.
The forecast represented representing a minimum 32% increase underlying pre-tax profit from FY20, and a minimum 36% growth in revenue from the prior.
This growth represented a strong recovery from the significant COVID-related impact in the first half, the company said.
19 January 2021 | 09:06am
StockMarketWire.com - Legal services business Knights swung to a first-half loss as restructuring costs offset a 45% rise in revenue.
For the six months ended 31 October 2020, the company reported a pre-tax loss of £1.1 million, compared with a profit of £2.8 million year-on-year, while revenue increased by 45% to £46.2 million.
The loss was due to the a significant level of non-underlying costs in the period, including £4.1m relating to the recognition of contingent consideration and amortisation of goodwill on acquisitions and £2.7m relating to restructuring costs, the company said.
Underlying pre-tax profit rose by 13% to £6.0 million.
Current trading was in line with market expectations for the full year, though the company said it remained vigilent of macro uncertainty.