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Highlights
- Knights Group posted a revenue of GBP 30 million in H1 FY24, marking a 5.8% YoY surge from GBP 71.20 million in H1 FY23.
- It has announced to pay interim dividend of about 1.61 pence per share in March, with an ex-dividend date of 15 February 2024.
- Cash conversion ratio of the firm has increased to 69% in H1 FY24 from 57% in H1 FY23.
FTSE AIM All-Share index listed Knights Group Holdings PLC (LSE:KGH) offers legal and professional services. In a bid to expand its reach in the North, Knights Group has recently acquired St James' Law in Newcastle and Baines Wilson in Carlisle.
In the first half of FY24, the company secured a revenue of GBP 75.30 million, marking a 5.8% year-on-year (YoY) surge from GBP 71.20 million in H1 FY23. Its profit before tax jumped by around 68.3% YoY to £6.9 million in H1 FY24. Notably, KGH’s interim dividend per share rose by approximately 5.2% YoY in H1 FY24. It has announced to pay the interim dividend of about 1.61 pence per share in March, with an ex-dividend date of 15 February 2024.
Furthermore, cash conversion ratio of the firm has increased to ~69% in H1 FY24 from 57% in H1 FY23. The company’s debtor days have decreased to 31 days in H1 FY24 from 32 days in the previous corresponding period (pcp).
The company has a £70 million of revolving credit facility agreed in November 2023. KGH intends to direct the capital for boosting organic growth, efficiencies and strengthening its platform for future acquisitions.
Top 10 Shareholders:
Around 72.48% of the total shareholdings of the company is held by its top ten shareholders. While Beech (David Andrew) is the biggest shareholder with the maximum number of shares of 22.05%, Octopus Investments Ltd owns over 13% shareholding.
Stock Price Performance
KGH’s stock price has gained approximately 9.65% in the last one month. It has surged by over 45% in the past six months. The stock’s 52-week low and high price stand at GBX 61.00 and 127.75, respectively.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 22 January 2024. The reference data in this report has been partly sourced from EODHD/Others.
