Listed remote working firm Keystone Law has reported further growth in profit, turnover and fee-earner headcount on the back of its 'scalable and unique' service model. In the six months to 31 July, pre-tax profits rose by 5.3% to £5.5m on turnover up 8.3% to £46.5m.
The firm also reported a 7.2% rise in 'adjusted profit before tax', to £6.1m. This figure includes amortisation and share-based payments.
Keystone, founded in 2002 as Lawyers Direct, became an alternative business structure in 2013 and has been listed on the alternative investment market since 2017. It now has 557 fee earners, up from 549 this time last year. Its lawyers decide how, when and where they work and are paid up to 75% of what they bill.
In a statement, James Knight, chief executive, said: 'Keystone's position in the market continues to strengthen and I am delighted that our ongoing operational excellence has been reflected in our financial performance. The business has delivered well across all our operational KPIs, reflecting the ongoing growth in demand for the benefits that Keystone provides.'
Shares in Keystone Law Group plc rose 3% to 680p on the announcement.
This article is now closed for comment.
8 Readers' comments