Law firm Knights, which has moved into famous Majestic building in Leeds alongside Channel 4, reports profitable growth
The law firm Knights, which has moved into the Majestic building in Leeds alongside Channel 4, today revealed that it has made a good start to trading in the new financial year.
Earlier, this year, Knights revealed that it has the capacity to employ up to 300 people at its new office in Leeds and could also boost its market share in Yorkshire by acquisition.
In May, Knights announced the completion of its move to the historic Majestic building in Leeds, which is also the new national headquarters of Channel 4.
In a statement issued at its AGM today, Knights' chairman, Bal Johal, said: "The last financial year saw Knights deliver another year of strong cash generative, profitable growth demonstrating the resilience of our business model and our people. Following the initial impact of the pandemic in the first half of the year, the group returned to strong organic growth in the second half of the year which complemented the contribution made from recent acquisitions.
"The board is pleased to report that the group’s strong momentum from the second half of FY21 has continued into the new financial year with a good start to trading in FY22 in line with the board's expectations.
"The group confirm that it will provide an update on trading for the half year to 31 October 2021 in November 2021, ahead of reporting its half year results in January 2022."
The Majestic was built in 1921 as a “super-cinema” and later became a bingo hall and a nightclub.
The building has been redeveloped to turn it into a base for fast growing businesses.
James Sheridan, Client Services Director at Knights said in May: “The exceptional space at Majestic provides an excellent base for our colleagues to further their careers and will play a key role in the continued success of Knights as we continue to grow our presence across the region.”
Last year, Knights acquired the long-established firm Shulmans to enter the Leeds legal market.
Speaking in May, Mr Sheridan said: “Around 110 people will be based in the Majestic building, which has 200 desks currently but, with opportunities created by flexible working, there is capacity if we needed for 250 to 300 people.
“We aim to work towards filling this capacity over the next few years.