Keystone Law Group PLC Trading Update (8307G)
November 30 2020 - 01:00AM
UK Regulatory
TIDMKEYS
RNS Number : 8307G
Keystone Law Group PLC
30 November 2020
30 November 2020
Keystone Law Group plc
('Keystone' or the 'Group')
Trading Update
Keystone Law (AIM:KEYS), the fast growing, UK Top 100,
challenger law firm which in November 2020 was named "Law Firm of
the Year" at the prestigious Lawyer Awards, issues the following
trading update.
The Board is pleased to report that, in spite of the disruption
caused by the second wave of COVID-19, the Group has performed well
throughout the second half to date. During the period, Keystone has
continued to see recovery across all areas of its business with
like for like performance having now returned to very near
pre-COVID levels. As a result, the Group now expects to deliver
profits for the year comfortably ahead of current market
expectations(1) .
James Knight, CEO of Keystone, said: "We are delighted with the
second half performance to date. Whilst the much feared second wave
of COVID-19 has arisen, unlike the first wave in the Spring, it has
had a limited impact on the performance of the Group."
(1) The Board considers current market consensus profit to be adjusted PBT of GBP4.6m
The information contained in this announcement is deemed to
constitute inside information for the purposes of the Market Abuse
Regulation (EU) No 596/2014.
- Ends -
For further information:
Keystone Law Group plc
James Knight, Chief Executive Officer Tel: +44 (0) 20 3319
3700
Ashley Miller, Finance Director www.keystonelaw.co.uk
Panmure Gordon (UK) Limited (Nominated Adviser
and Joint Broker)
Dominic Morley (Corporate Finance) Tel: +44 (0) 20 7886
2500
Erik Anderson (Corporate Broking) www.panmure.com
Investec Bank plc (Joint Broker)
Carlton Nelson Tel: +44 (0) 207
597 5970
James Rudd www.investec.co.uk
Media enquiries:
Buchanan
Henry Harrison-Topham / Steph Watson Tel: +44 (0) 20 7466 5000
KeystoneLaw@Buchanan.uk.com www.buchanan.uk.com
Notes to editors
Keystone Law is a UK Top 100, fast growing, profitable and cash
generative challenger law firm which in November 2020 was named
"Law Firm of the Year" at the prestigious Lawyer Awards.
Established in 2002, Keystone is one of the first platform models
disrupting the traditional law firms operating within the legal
services mid-market. Keystone's model permits rapid scalability,
enabling the Group to increase the number of revenue generating
lawyers more quickly than the traditional model.
As a full service law firm, Keystone delivers conventional legal
services across more than 20 service areas and over 50 industry
sectors to a client base comprising predominantly of SMEs and
private individuals. These services are delivered by over 345
experienced self-employed lawyers who work from their own offices;
with no fixed remuneration their fees are calculated with direct
reference to the income they generate for the Group. The lawyers
are fully supported by the Group's central office team of
approximately 45 employees, and are therefore able to focus
entirely on business development and the delivery of legal
work.
With the head office located in the heart of London's legal
district on Chancery Lane, the Group uses its bespoke proprietary
software platform to enable Keystone's lawyers to interact with the
central office team and each other in an easy and efficient manner,
whilst extensive networking and social events engender a strong
sense of belonging to the Keystone family. The platform also drives
interaction, co-operation and a strong corporate culture across the
business.
Keystone joined the AIM market of the London Stock Exchange in
November 2017, raising GBP15 million, under the ticker KEYS. More
information can be found at: www.keystonelaw.co.uk
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END
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