Knights Group Holdings (AIM:KGH), the national legal and professional services business, grew underlying revenue 28% to £207.7 million in the year ended 30 April, compared with £162.0 million a year earlier, with organic growth accelerating sharply to 12% in the second half after the group had reported negative organic growth the previous year.
Underlying profit before tax rose 19% to £33.2 million from £28.0 million, while underlying EBITDA climbed 20% to £51.5 million, as the group absorbed higher national insurance costs and continued to invest in technology and its management platform.
Reported pre-tax profit fell to £10.2 million from £12.3 million, reflecting increased acquisition-related non-underlying costs.
Net debt was broadly unchanged at £65.4 million after approximately £17 million of acquisition-related cash payments, with the net debt to EBITDA banking covenant ratio easing to 1.5 times from 1.6 times.
The board declared a final dividend of 3.69p per share, lifting the full-year total 17% to 5.63p from 4.81p.
"We grew revenues by 28% year on year, doubling them over the last five years," said chief executive David Beech, adding that cash discipline had allowed the group to grow without a material increase in debt.
Knights said trading had made a positive start to the new financial year and that it had renewed its revolving credit facility to £159 million from £100 million, committed until July 2029, to support continued organic growth and further acquisitions.
