Earnings release
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19 February 2025 Trading Update and Notice of Results Keystone to deliver revenue and adjusted profit before tax for FY 2025 slightly ahead of current market expectations Keystone, the tech-enabled platform law firm, is pleased to announce the following trading update for the year ended 31 January 2025 ("FY 2025" or the "Period"). The business has continued to trade well during H2 2025, building on the successful H1 2025 to deliver a strong overall performance for FY 2025. Ongoing broad based client demand, together with the additional contribution of those lawyers who have recently joined us, has delivered better than anticipated revenue for the Period. This, in conjunction with the slower than expected reduction in interest rates means that the Board now expects the Group to deliver revenue and adjusted profit before tax for FY 2025 slightly ahead of current market expectations . Recruitment activity remained buoyant as we have continued to build on the momentum of H1 2025, with 50 new Principals joining during FY 2025, ending the Period with 455 Principals and a total of 576 fee earners. James Knight, Chief Executive Officer of Keystone, commented: "I am delighted with the continued growth and strong financial performance of the business this year. The calibre of the lawyers now joining the business is superb, reflecting the market leading position which Keystone holds. By placing quality at the centre of everything we do, we continue to drive long term, sustainable growth across the business and value creation for all our stakeholders." (1) Current market expectations for FY 2025: revenue £94.0m and adjusted PBT £11.9m Notice of results Keystone will be announcing its final results for the year ended 31 January 2025 on Thursday, 1 May 2025. Analyst Briefing A virtual meeting for sell-side analysts will be held virtually at 9.30 a.m. on Thursday, 1 May 2025. Analysts wishing to attend this event can register via email at: keystonelaw@vigoconsulting.com Retail Investor Presentation Keystone's management team will provide a separate presentation and Q&A for retail investors at 1.00 p.m. on Tuesday, 6 May 2025. The presentation will be hosted on the Investor Meet Company platform, where questions can be submitted pre-event up until 9.00 a.m. on the day before the meeting, or at any time during the live presentation. Regulatory News (1) (1) 2025-02-19 12:00 Regulatory News | Keystone Law | Trading Update and Notice of Results https://www.keystonelaw-ir.co.uk/content/news/archive/2025/190225 1/3
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Investors can register for free and subscribe to alerts on Keystone by visiting: www.investormeetcompany.com/keystone-law-group-plc/register-investor Investors who already follow Keystone on the Investor Meet Company platform will automatically be invited. For further information please contact: Keystone Law Group plc James Knight, Chief Executive Officer Ashley Miller, Finance Director www.keystonelaw.com +44 (0) 20 3319 3700 Panmure Liberum Limited (Nominated Adviser and Joint Broker) Atholl Tweedie (Corporate Finance) Rupert Dearden (Corporate Broking) www.panmureliberum.com +44 (0) 20 7886 2500 Investec Bank plc (Joint Broker) Carlton Nelson James Rudd www.investec.co.uk +44 (0) 20 7597 5970 Vigo Consulting (Financial Public Relations) Jeremy Garcia / Fiona Hetherington keystonelaw@vigoconsulting.com +44 (0)207 390 0233 The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Notes to editors Keystone (AIM: KEYS), is an award-winning, UK Top 100, law firm, providing conventional legal services in a £10bn addressable market through its scalable and unique model, with three defining characteristics: 2025-02-19 12:00 Regulatory News | Keystone Law | Trading Update and Notice of Results https://www.keystonelaw-ir.co.uk/content/news/archive/2025/190225 2/3
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· Lawyers have freedom, flexibility and autonomy, and are paid up to 75% of what they bill. · Lawyers determine how, when and where they work, in contrast to the conventional law firm model. · Lawyers are provided full infrastructure and support via its central office team, bespoke user-friendly IT platform, and network of colleagues and events. Keystone is a full-service law firm, with 20 service areas and more than 50 industry sectors delivered by over 450 high calibre self- employed Principal lawyers who work from their own offices. More information about Keystone can be found at www.keystonelaw.co.uk. Home About us Lawyers News Keynotes Awards Contact Us Join us Investor Relations Site Map Search Legal Notices Privacy & Cookies Policy Pricing Complaints Terms of Engagement Terms of Engagement (IOM) Terms of Engagement (NI) Additional Terms of Purchase Modern Slavery Transparency Statement 2025-02-19 12:00 Regulatory News | Keystone Law | Trading Update and Notice of Results https://www.keystonelaw-ir.co.uk/content/news/archive/2025/190225 3/3