**Summary**
Knights Group Holdings PLC, a leading UK legal and professional services firm, reported a strong trading update for the six months ended 31 October 2025. Key highlights include
1. **Revenue Growth**A 30% increase in revenue from continuing operations to ยฃ103.2 million, driven by a return to organic growth of approximately 3%.
2. **Profitability**Underlying profit before tax (PBT) rose by 12% to ยฃ16.4 million, with a PBT margin of 16%, in line with internal forecasts despite higher payroll taxes and investments in AI and technology.
3. **Working Capital Management**Reduced debtor days to 32, reflecting continued discipline in managing working capital.
4. **Net Debt**Increased to ยฃ75.2 million due to acquisition-related cash outflows and capital expenditures, but strong underlying cash conversion was maintained.
5. **Acquisitions and Integration**Successfully integrated new teams in the West Midlands, Thames Valley, South East, and Cardiff, all performing as expected.
6. **Talent Acquisition**Attracted 46 senior fee earners, with low annualised churn rates maintained through engagement initiatives.
7. **Financing**Extended its ยฃ100 million revolving credit facility with HSBC UK, AIB (GB), and NatWest until November 2028 on the same terms.
8. **Outlook**Confidence in delivering full-year performance in line with market expectations, supported by recent hires and contributions from acquisitions.
CEO David Beech emphasized the Groupโs strong performance, disciplined financial management, and strategic growth initiatives, positioning Knights for continued expansion beyond the current financial year. Half-year results will be announced on 12 January 2026.
Below is the HTML table code comparing the financials and debt year on year based on the provided text:
### Explanation:
- **Revenue from Continuing Operations**: Increased by 30% from ยฃ79.4m in H1 FY25 to ยฃ103.2m in H1 FY26. - **Underlying PBT from Continuing Operations**: Increased by 12% from ยฃ14.6m in H1 FY25 to ยฃ16.4m in H1 FY26. - **Underlying PBT Margin**: Decreased by 2% from 18% in H1 FY25 to 16% in H1 FY26. - **Debtor Days**: Improved by 1 day from 33 in H1 FY25 to 32 in H1 FY26. - **Net Debt**: Increased by 16% from ยฃ64.8m in H1 FY25 to ยฃ75.2m in H1 FY26. This table provides a clear year-on-year comparison of key financial metrics and debt for Knights Group Holdings PLC.