Knights Group makes 'positive start' to new financial year

Knights Group reported a “positive start” to its new financial year in a trading update on Tuesday.

The AIM-traded firm, which was holding its annual general meeting, noted its “robust” financial performance in the last financial year, with “strong” cash generation and “good” revenue growth of 22%.

Chairman Bal Johal said that demonstrated the “continued resilience” of the business model and its people, despite the trading headwinds faced in the last few weeks of the financial year.

“The board is pleased to report that the group has had a positive start to the new financial year,” Johal told shareholders.

“It continued to execute its growth strategy with the successful acquisition and integration of Coffin Mew in the first quarter, and conversations with a number of attractive acquisition targets are ongoing.

“We expect our organic growth to be underpinned by our ability to attract high calibre professionals.”

At 1543 BST, shares in Knights Group Holdings were down 2.07% at 89.8p.

Reporting by Josh White at Sharecast.com.