Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Keystone Law saw basic EPS rising from 5.5p to 6.3p with profit after tax continuing to grow from £2.17m to £2.43m.
Lawyer recruitment continued to be strong, and a special dividend of 8p was announced - along with the interim dividend of 3.2p which is in line with the company's progressive dividend policy.
There was revenue growth of 15.3% to £23.0m (H1-2019: £19.9m), and cash conversion was 90% of operating cashflow.
The company said that performance in the period had been ahead of expectations and this has laid a strong foundation for the rest of the year, with investments in new office space to deliver more meeting rooms, hot desks and improved lawyer centre.
James Knight, Chief Executive Officer of Keystone Law, commented:
'I am pleased to report another strong set of Interim Results, as reflected by both the Group's financial and operational performance.'
'The revenue and profit growth has been driven by the ongoing strength of the recruitment activity as we continue to attract high calibre principal lawyers looking to take advantage of the benefits that the Keystone model offers and build their practices. This is providing clear evidence of the Group's ability to scale and take advantage of the considerable mid-market opportunity.'
At 8:17am: (LON:KEYS) Keystone Law Group Plc share price was +10p at 535p