By Elena Vardon
Keystone Law Group, a London-listed law firm, has announced that it expects its financial results for fiscal 2024 to surpass market expectations. The company has reported an increase in pretax profit for the first half of the year, driven by strong client demand.
For the six months ended July 31, Keystone Law Group recorded a pretax profit of GBP5.3 million, compared to GBP4.1 million in the same period last year. Its revenue also saw growth, reaching GBP42.3 million, up from GBP36.8 million.
In addition, the company declared an interim dividend of 5.8 pence per share, an increase from the previous year's payout of 5.2 pence, and a special dividend of 12.5 pence.
James Knight, Chief Executive of Keystone Law Group, commented on the positive results: "The extremely high level of demand for candidates, experienced during FY-2023, has now slightly subsided and, although the uncertain economic outlook continues to weigh on candidate movement, the results of our recruitment activity in H1-2024 have been extremely encouraging."
Market expectations anticipate full-year revenue of GBP78.9 million and adjusted pretax profit of GBP9.5 million.
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