Knights Group Holdings PLC (AIM:KGH) shares rose 6% in Monday trading as the legal and professional services business posted full-year results showing a resilient performance against a challenging backdrop.
For the year ended 30 April 2023, Knights saw its revenue increase by 13.1% to £142.1mln (FY22: £125.6mln), with underlying profit before tax (PBT) up 19.1% to £21.6mln (FY22: £18.1mln), and its underlying PBT margin rising to 15.2% (FY22: 14.4%).
The company has recommended a final dividend of 2.50p (FY22: 2.04p), giving a 15% increase in the total dividend to 4.03p (FY22: 3.50p).
Knights also highlighted a solid start to the current year as it navigates continuing macroeconomic uncertainty and rising interest rates, with growth in less cyclical areas, new client wins and an increase in recruitment activity.
In the results statement, David Beech, CEO of Knights, commented: "As we move through the year, we expect to benefit incrementally from recent positive recruitment momentum, a heightened focus on growth and business development and the strengthening of our operational management."
"We will continue carefully to consider acquisition opportunities which will consolidate or expand our existing footprint and provide a strong platform for future organic growth."
Around 9.35am, Knights' shares were 6.6% higher at 68p.