Law firm Knights sees profits rise ahead of move to Channel 4 HQ Majestic

The listed legal and professional services business saw its revenue increase by 41 per cent to £74.3m up from £52.7m the previous year, including 10 per cent organic revenue growth.

While underlying pre-tax profit rose by 45 per cent to £13.6m .

David Beech, CEO of Knights, said: “We have delivered a year of strong, profitable, cash generative growth and demonstrated progress in line with our strategy to complement organic growth with carefully targeted acquisitions."

Earlier this year, Knights acquired Leeds-based independent corporate law firm Shulmans in a deal worth up to £20m. The move saw Knights enter the legal market in Leeds.

Prior to that it entered the market in York with an office opening.

Mr Beech said: “Our recent investments in systems, people and through acquisitions provide the Group with the benefits of scale and resilience, positioning it well for a recovery in our markets.

“Whilst the market remains uncertain, we are pleased to see early signs of a recovery and the current year is expected to benefit from the full year effect of prior year acquisitions and our continued momentum in recruiting high calibre talent, many from other Top 50 law firms."

In the year ended April 30, 2020, Knights recruited a net total of 108 fee earners up from 46 fee earners.

Mr Beech added: “Beyond the near term, we anticipate that Covid-19 will only accentuate the recruitment and acquisition opportunities for our resilient, well-invested, diversified and cash generative business in the highly fragmented and often under-invested market for legal services outside London.”

Knights will be joining Channel 4 in the Majestic building, which has been refurbished by the Rushbond Group.A spokesman confirmed that 100 staff from Knights will move into the building in January 2021.