Knights reports return to organic growth

Reading time: one minute

Knights Solicitors LLP has published its half year data, which shows both organic growth and an increase in revenue following several acquisitions over the past year and an expanded focus on cash collection.

The law firm announced that its revenue has increased by 6% to £75.3 million in the six months leading up to 31 October 2023, while also posting an organic growth of 3.3%. Knights’ CEO, David Beech, explained that, despite the economic climate, the firm’s “diverse business model” gives partners a “safe haven […] to earn the same or more in income”. He notes that this has allowed the business to “double the amount of senior hires in this half year”. In addition, the firm has completed 21 acquisitions since 2018.

Following its success, the law firm will “continue to grow its footprint”. According to Beech, “the real growth for us is going to be all of the other locations outside London, Birmingham, Manchester, Leeds, where we can be a dominant force in legal and professional services to the business communities.”

As well as focusing on growth, the firm’s half-year results also highlight that it’s pushing on cash collection. The firm takes an average of 31 days to collect invoices, according to its half-year results – 42 days faster than the average of the top 100 law firms, according to a PwC survey. Beech explained that the firm’s efficient collection process has allowed Knights to be a “market leader in cash generation”, which means it can “keep investing in people, technology, premises and acquisitions”.