Trading Update & Notice of Results
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Trading Update
And
Notice of Results
Keystone, the network and tech-enabled challenger law firm, is pleased to announce the following trading update for the year ended 31 January 2024 ("FY 2024" or the "Period").
The business continued to trade well through H2 2024, resulting in a strong performance for FY 2024. Sustained client demand, as well as the impact of new joiners, has generated a better than anticipated revenue outturn. As a result of these factors, in combination with continuing high interest rates, the Board now expects the Group to deliver revenue and adjusted profit before tax for FY 2024 slightly ahead of current market expectations(1).
H2 2024 has seen a continuation of the recruitment trends reported at the time of the half year results in September 2023, and the Group has continued to capitalise on the favourable market conditions, recruiting 51 new Principals during FY 2024 and ending the Period with 432 Principals and a total of 549 fee earners.
James Knight, Chief Executive Officer of Keystone, commented:
"I am delighted to report that Keystone delivered a strong trading performance across the year, further leveraging our unique operating model and market position within the legal profession.
"Our ongoing financial and operational momentum has been accelerated by a more fertile recruitment environment following the challenges of the last couple of years, and we look forward to building on this performance in the year ahead."
- Current market expectations for FY 2024: revenue £84.8m and adjusted PBT £10.9m
Notice of Results
Keystone will be announcing its final results for the year ended 31 January 2024 on Thursday, 18 April 2024.
Analyst Briefing
A meeting for analysts will be held virtually at 9.30 a.m. on Thursday, 18 April 2024. Analysts wishing to attend this event can register via email at: keystonelaw@vigoconsulting.com
Retail Investor Presentation
Keystone's management team will provide a separate presentation and Q&A for retail investors at 1.00 p.m. on Monday, 22 April 2024.
Investors can register for free and subscribe to alerts on Keystone by visiting:
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