London’s Keystone Law boss eyes ‘busy market’ and post-pandemic recruitment
London-headquartered Keystone Law has declared an interim dividend this morning, following six months of revenue growth and zero debt.
The challenger law firm posted a revenue of £33.7m for the six months to 31 July, up more than 37 per cent in comparison to the first half of last year. As a result, Keystone has instated an interim dividend of 4.5p for loyal shareholders.
The news sent shares soaring 9.58 per cent to 835p per share in its afternoon trading.
While touting a cash position of £7.2m and zero debt, the firms appears ready to “take advantage” of the opportunities in the legal recruitment market “as the Covid-19 restrictions are fully relaxed and potential candidates are required to return to the office during the second half of this year,” it said in a statement.
Keystone’s operational profit also jumped 27.2 per cent to £4.2m, up from £3.3m in the same period last year.
The firm’s boss, James Knight, hailed the “impressive” results, adding that it is continuing to grow its lawyer base and post “strong increases in both revenue and profit”.
“The legal market remains very busy and we are well positioned to take advantage of the further opportunities which we believe the ‘return to work’ will present.
“I am looking forward to carrying on delivering strong results in second half of the year.”