Knights Group Holdings
plc
("Knights", the "Company" or the
"Group")
Annual General Meeting
Knights today holds its Annual General Meeting
at 10:30am on 24 September 2024 at Riverside Court, Wilmslow,
Cheshire, SK9 1DL.
At the AGM, the Group's Chairman, Dave Wilson,
will make the following remarks:
"Knights delivered a good financial performance
for the last financial year with underlying
PBT1 growth of 17%
against a challenging market backdrop. This performance reflected
the strength of our diversified service offering, and continued
execution against our strategy, and built on our strong track
record of profitable growth."
"Our unique culture continues to be a
differentiator for us in the UK legal market and a key driver of
our momentum in attracting new talent, through both recruitment and
acquisition. This underpins the Board's confidence in the current
year."
Further details can be found on Knights'
website:
https://www.knightsplc.com/investors
Footnotes
1
Underlying PBT
is before amortisation of acquired intangibles, non-underlying
operating expenses, and non-underlying finance costs.
Non-underlying operating expenses include transaction and onerous
lease expenses in relation to acquisitions, contingent acquisition
payments, disposal of acquired assets, along with one-off
restructuring staff and professional expenses, mainly incurred on
acquisitions, through streamlining support functions or strategic
reorganisations.
Contingent acquisition payments are treated as a
non-underlying expense as this represents payments for acquisitions
which are dependent on the continued employment of certain
individuals in the business for an agreed contractual period after
an acquisition of one to three years to preserve the acquired
goodwill and customer relationships. Accounting standards require
such arrangements to be treated as remuneration in the Statement of
Comprehensive Income. However, the individuals also receive market
rate salaries, therefore, if not separately identified, these
payments would significantly distort the reported
results.
Ends
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Knights
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David Beech, CEO
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Via MHP
Group
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Deutshe Numis
(Nomad and Broker)
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Stuart Skinner, Kevin Cruickshank
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020 7260 1000
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MHP Group
(Media enquiries)
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Katie Hunt, Eleni Menikou, Rob
Collett-Creedy
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020 3128 8100 / 07884 494112
knights@mhpgroup.com
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Notes to
Editors
Knights is a fast-growing legal and
professional services business, ranked within the UK's top 50
largest law firms by revenue. Knights was one of the first law
firms in the UK to move from the traditional partnership model to a
corporate structure in 2012 and has since grown rapidly. Knights
has specialists in all key areas of Corporate and Commercial law
and Private Wealth services. It is focussed on key UK markets
outside London and currently operates from 26 offices located in
Birmingham, Brighton, Bristol, Carlisle, Cheltenham, Chester,
Exeter, Kidderminster, Kings Hill, Leeds, Leicester, Lincoln,
Manchester, Newbury, Newcastle, Nottingham, Oxford, Portsmouth,
Sheffield, Solihull, Stoke, Teesside, Weybridge, Wilmslow,
Worcester and York.
