Image source: © Laviana | Megapixl.com

Highlights

  • Keystone Law Group PLC (LSE: KEYS) offers legal services for business and individuals using technology and modern working practices to drive productivity and deliver results.
  • The Group posted a year-on-year growth of approximately 8.2% in revenue during FY23.
  • KEYS’ total dividend increased by 2.5% YoY for the reporting period.

Keystone Law Group PLC (LSE: KEYS) is an FTSE AIM All-Share index listed London-headquartered legal company that is focused on offering legal services for business and individuals using technology and modern working practices to drive productivity and deliver results.

The company ended the fiscal year 2023 with a notable operational progress. It’s number of total fee earners witnessed a jump to 507 during FY23 from 481 in FY22. Also, the number of Principals has increased from 394 in FY22 to 398 at the end of FY23.

The Group posted a year-on-year growth of approximately 8.2% in revenue during the year. KEYS has attributed this growth to improved client demand. Furthermore, the revenue per principal rose to £190,000 during FY23, representing 4.1% year-on-year growth.

KEYS’ total dividend increased by 2.5% YoY during the reporting period. The firm could maintain a cash conversion of 96.5% and remained debt-free at the end of FY23.

A look at KEYS FY24 plans
Keystone Law Group kicked off FY24 on a high note and kept up the positive business momentum. It can be attributed to the growing client demand. Furthermore, the company has achieved the growth because of  increased candidate flow generating huge cash inflow. Overall, KEYS is anticipating to register significant growth in the ongoing fiscal year in a highly competitive recruitment market.

Top 10 Shareholders
As depicted in the chart below, the top ten shareholders of the company constitute around 80.90% of the total shareholdings. While Knight (James David) owns over 27% shares, Canaccord Genuity Wealth Management holds approximately 14.26% shareholding in Keystone Law Group.

Stock Price Performance
There has been a drop of around 9% in the stock price in the last one month. Over the last nine months, it has witnessed a decline of over 15.8%. The stock has a 52-week low and 52-week high of GBX 390.00 & GBX 630.00, respectively.

Data Source: EODHD/Others, Analysis done by Kalkine Group

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

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 11 July 2023. The reference data in this report has been partly sourced from EODHD/Others.