Knights Group sees 'encouraging recovery' from initial Covid-19 disruptions

Legal firm Knights group said on Monday that it had seen an "encouraging recovery" following initial disruptions stemming from the Covid-19 pandemic.

Knights reported a decline of about 20% in new business in the first few weeks of its current trading year but stated that the level of instructions had "steadily improved" through July/August and into September.

The AIM-listed group said it was currently operating at a run rate equivalent to a roughly 10% decline in new business compared to pre-Covid-19 levels and expects the ongoing improvement to continue over the remainder of the year.

"We anticipate that Covid-19 will continue to accentuate both recruitment and acquisition opportunities for our resilient business in the highly fragmented market for legal services outside London," said Knights.

As of 0930 BST, Knights Group shares were down 3.47% at 473.0p.