Trading Update and Notice of Results

Keystone to deliver revenue and adjusted profit before tax for FY 2025 slightly ahead of current market expectations (1)

Keystone, the tech-enabled platform law firm, is pleased to announce the following trading update for the year ended 31 January 2025 ("FY 2025" or the "Period").

The business has continued to trade well during H2 2025, building on the successful H1 2025 to deliver a strong overall performance for FY 2025. Ongoing broad based client demand, together with the additional contribution of those lawyers who have recently joined us, has delivered better than anticipated revenue for the Period. This, in conjunction with the slower than expected reduction in interest rates means that the Board now expects the Group to deliver revenue and adjusted profit before tax for FY 2025 slightly ahead of current market expectations(1).

Recruitment activity remained buoyant as we have continued to build on the momentum of H1 2025, with 50 new Principals joining during FY 2025, ending the Period with 455 Principals and a total of 576 fee earners.

James Knight, Chief Executive Officer of Keystone, commented:

"I am delighted with the continued growth and strong financial performance of the business this year. The calibre of the lawyers now joining the business is superb, reflecting the market leading position which Keystone holds. By placing quality at the centre of everything we do, we continue to drive long term, sustainable growth across the business and value creation for all our stakeholders."

• Current market expectations for FY 2025: revenue £94.0m and adjusted PBT £11.9m

Notice of results

Keystone will be announcing its final results for the year ended 31 January 2025 on Thursday, 1 May 2025.

Analyst Briefing

A virtual meeting for sell-side analysts will be held virtually at 9.30 a.m. on Thursday, 1 May 2025. 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 Tuesday, 6 May 2025.

Investors can register for free and subscribe to alerts on Keystone by visiting: