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Keystone Law Group (KEYS) investor relations material
Keystone Law Group H1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered strong interim results for the six months ended 31 July 2026, with robust revenue and profit growth driven by continued recruitment of high-calibre lawyers and a scalable, tech-enabled platform.
Maintains a disruptive, low-risk, highly cash-generative business model in the mid-market commercial law sector, leveraging technology, flexible working, and a progressive dividend policy.
Ongoing investment in AI adoption, brand refresh, and recruitment to support growth and reputation, despite a softer recruitment market due to geopolitical uncertainty.
Financial highlights
Revenue increased 22.5% year-over-year to £66.3m; revenue per Principal rose 14.5% to £133.8k.
Adjusted PBIT rose 31.6% to £8.1m; adjusted PBT up 31.3% to £9.6m, with margin at 14.5%.
Adjusted EPS increased to 23.1p from 17.8p year-over-year.
Cash conversion at 95.6%, with period-end net cash of £10.5m.
Share buyback of £1.5m completed; interim dividend of 9.6p and special dividend of 15p per share declared.
Outlook and guidance
Positive outlook for H2 2027, with revenue and profits expected to be comfortably and materially ahead of market expectations.
Confident in delivering strong, sustainable growth despite global geopolitical uncertainty impacting recruitment.
- Revenue up 17.9%, adjusted PBT up 20.6%, record recruitment, and strong cash generation.KEYS
H2 2026 - FY2026 revenue and adjusted PBT expected to surpass market forecasts amid robust growth.KEYS
H2 2026 TU - Revenue up 16.5%, adjusted PBT up 20.4%, with strong recruitment and higher interim dividend.KEYS
H1 2026 - Revenue and adjusted PBT both exceeded expectations, driven by robust recruitment and cash flow.KEYS
H1 2025 - FY 2025 revenue and profit to surpass expectations as Keystone Law sustains strong growth.KEYS
Trading Update - Double-digit growth, strong cash, and increased dividends highlight a robust year.KEYS
H2 2025
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