Keystone Law Group PLC (AIM:KEYS) shares jumped 9% in early deals on Monday following the challenger law firm’s latest trading update for the year ending 31 January 2023.
Favourable market conditions reported in the first half continued through to the second half, as client demand remained “robust”, resulting in Keystone delivering “strong performance”, a statement revealed.
Accordingly, the board now expects both revenue and adjusted profit before tax for full-year 2023 to be marginally ahead of current expectations.
Despite the ongoing competitive nature of the legal recruitment market, the company had a total of 507 fee earners at the end of the year, achieved against a backdrop of broader economic instability.
Chief executive James Knight commented: "There is no question in my mind that the benefits of the Keystone model have been completely validated by the shift away from conventional working practices experienced over the last few years and I am confident that as the recruitment market stabilises we will see further impetus to our future growth."
Keystone shares were selling for 540p as of 9.20am.