Knights Group Holdings PLC (AIM:KGH), the legal and professional services business, said it expects full-year revenues and profits to be ahead of 2022, which sent shares 8% higher to 92p.
Revenues are expected to grow by 13% to £142mln for the 12 months to 30 April 2023, while underlying pre-tax profits should rise 19% to £21.5mln.
According to a statement, net debt as of 30 April is expected to be £29mln, providing “significant” headroom against the group’s revolving credit facility of £60mln.
“We enter the new financial year well placed to deliver organic growth from our increased network of integrated regional offices, with positive momentum across the business from new client wins and a strong pipeline of partner hires,” said CEO David Beech.
The Coffin Mew and Meade King acquisitions are integrating well and performing in line with expectations, the company said.
Knights Group is reviewing potential targets and agreed earlier this month to purchase law firms St James Law and Baines Wilson.