Keystone’s turnover jumps 15 per cent over H1
Keystone Law’s turnover is up 14.9 per cent at the half-year point, while adjusted profit has risen by 25.2 per cent. The turnover increase meant Keystone made £42.3m in the last six months, compared to £36.8m this time last year. Adjusted profit per tax reached £5.7m. Speaking to The Lawyer, CEO James Knight said he was particularly pleased that revenue per principal had increased by 12.2 per cent to £104,000 for the half-year. He said: “It indicates where we are, in […]
Keystone defies listed market woes with 8 per cent growth
Listed firm Keystone has grown its turnover by 8 per cent over 2022 to £75.3m. The results indicate a slight slowdown on Keystone’s H1 results for 2022 when revenue was up by 10 per cent to £36.8m for the first six months. Growth is also far more muted compared to the firm’s bumper set of financial results for 2021 when turnover soared 26.5 per cent from £55m to £69.6m. Over 2022, the firm’s adjusted profit before tax increased 6.3 per cent […]
Keystone’s revenue jumps 10 per cent while profits flatline
Revenue at Keystone Law hit £36.8m for the first six months of 2022 ending 31 July, a near 10 per cent increase compared to its last set of half-year results. Speaking to The Lawyer, CEO James Knight said the revenue increase was “largely built on a mixture of strong client demand” and “additional recruits who have joined the firm and introduced new clients”. The firm’s profit before tax (PBT) took a slight 2.5 per cent knock compared to its half-year […]
Keystone Law dishes out “special dividend” after bumper financials
Keystone Law’s revenue increased 26.5 per cent from £55m to £69.6m during the past financial year, marking another 12 months of double-digit growth for the listed firm. Adjusted profit rose 51 per cent from £6m to £9m, while the debt-free firm saw net cash jump 42 per cent from £7.4m to £10.5m. Keystone is proposing a final ordinary dividend of 11.2p per share to be paid to shareholders, plus a special dividend of 10p per share in recognition of its […]
Keystone rolls out agile model to admin staff
While Keystone Law‘s fee-earners have long been accustomed to its flexible working model, its central office staff have now been granted the same freedoms. The Lawyer understands that Keystone is opening up voluntary office attendance for its full-time administrative employees, who will be able to attend its Chancery Lane base just one day a week. This remote model has been in operation throughout the pandemic, although it was just recently that the firm’s office was fully reopened. CEO James Knight […]
Keystone directors to reap rewards of £6.9m share sale
Several members of Keystone Law’s leadership team have cashed out on millions of pounds worth of shares after the firm’s value recently hit its highest-ever peak. Those selling shares included chief executive officer James Knight, compliance and operations chief William Robins and finance director Ashley Miller. Robins gained the most from his recent sale by securing £4.92m from 600,000 worth of shares, followed then by Knight who made £1.64m from 200,000. Miller also traded 45,000 shares in exchange for £369,000. […]
Pandemic bounce-back fuels Keystone’s half-year growth
Keystone Law’s revenue climbed to £33.7m for the six months ending 31 July, representing a 10.8 per cent increase on its last set of half-year results. This was alongside a significant hike in profit before tax, which in comparison to the first half of the last financial year, leapt by 109 per cent to reach £4.3m from £2.2m in 2020/21. These figures represent continued growth for Keystone, with CEO James Knight telling The Lawyer that it is the result of […]
Keystone CEO sells shares worth nearly £10m
Keystone Law‘s chief executive officer James Knight is cashing out on £9.45m worth of shares after increased demand in the listed firm from institutional investors. A market announcement on Tuesday revealed that a total of 1,500,000 ordinary shares have been sold by Knight at a price of £6.30 each, which reduces his stake in the business by 4.8 per cent. Despite this, he remains Keystone’s biggest shareholder with a 29.85 per cent stake in the business, which is worth almost […]
Keystone plans “catch-up” payments after record financials
Keystone’s revenue increased by 10.9 per cent to £55m during the last financial year, with adjusted profit climbing to £6m. Despite 12 months of significant uncertainty, Keystone CEO James Knight was pleased with what he described as a “fairly normal set of results” during a period in which the firm’s remote model allowed for business for usual. Without furloughing or making any redundancies, Keystone also avoided taking on any debt and boasts a net cash position of £7.4m. “We haven’t […]
18 new partners joined Keystone during the pandemic – it took them just minutes
Joining the virtual army of lawyers was made simple by full automation
Keystone named Firm of the Year at The Lawyer Awards 2020
Keystone has been crowned Law Firm of the Year at The Lawyer Awards, in association with Travelers. It is the first time in the awards’ 26-year history that the top prize has been handed to a non-traditional law firm, but the coronavirus pandemic of the past year has vindicated Keystone’s model in spades and the firm has gone from strength to strength. The winners may have been announced in a virtual ceremony rather than in person, but the tension was […]
Keystone to resume dividends despite profits slowdown
Profits are down at dispersed firm Keystone Law, according to its interim results for the first half of 2020, as the business looks to resume dividend payments due to an increase in its revenue. The listed firm’s profit before tax was down 18.4 per cent from £2.7m to £2.2m, while its turnover grew 5 per cent from £23m to £24.5m. The firm attributed the slowdown in profits to money spent in order to move the operations of its central office […]