Keystone Law Group PLC Pre-Close Trading Update (3818M)
January 21 2021 - 1:00AM
UK Regulatory
TIDMKEYS
RNS Number : 3818M
Keystone Law Group PLC
21 January 2021
For immediate release 21 January 2021
Keystone Law Group plc
('Keystone' or the 'Company')
Pre-Close Trading Update
Notice of Final Results
Keystone Law (AIM:KEYS), the fast growing, UK Top 100,
challenger law firm, is pleased to announce the following pre-close
trading update ahead of its final results for the year ending 31
January 2021 (the 'period').
Further to our Trading Update issued on 30 November 2020, the
Board is pleased to report that trading throughout December and
early January has been exceptionally strong. Unlike previous years,
where the Christmas season normally experiences a slowdown in
activity, performance levels continued to be high throughout and as
a result, the Board now expects to report adjusted profit before
tax for the period which will be materially ahead of current market
expectations(1) .
James Knight, Chief Executive Officer of Keystone, said: "I am
delighted that we are ending the year on such a positive note. In
what has been a very difficult year for many the core attributes of
the Keystone model have really come to the fore. The investment we
have made over many years, in both the technology and the culture,
has ensured that our lawyers have been fully operational all year
and have continued to deliver high quality legal services to our
clients. Having said that, the strength of trading over the past
two months has somewhat taken us by surprise."
The Group will be announcing its final results for the year
ending 31 January 2021 on Wednesday, 5 May 2021.
- Ends -
(1) The Board considers current market consensus adjusted profit
before tax to be GBP5.1 million.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
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) 20 7597
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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