Keystone Law reports 'exceptionally strong' December trading

Challenger law firm Keystone Law updated the market ahead of the end of its financial year on Thursday, reporting that trading throughout December and early January had been “exceptionally strong”.

The AIM-traded firm said that unlike previous years, where the Christmas season normally experienced a slowdown in activity, performance levels were still high throughout.

As a result, it said it now expected to report adjusted profit before tax for the period “materially ahead” of current market expectations.

“In what has been a very difficult year for many the core attributes of the Keystone model have really come to the fore,” said chief executive officer James Knight.

“The investment we have made over many years, in both the technology and the culture, has ensured that our lawyers have been fully operational all year and have continued to deliver high quality legal services to our clients.

“Having said that, the strength of trading over the past two months has somewhat taken us by surprise.”

Keystone Law said it would announce its final results for the year ending 31 January on 5 May.

At 1203 GMT, shares in Keystone Law Group were up 8.51% at 548p.