Regulatory News

Keystone Law (AIM:KEYS), the fast growing, UK Top 100, challenger law firm, is pleased to announce the following pre-close trading update ahead of its final results for the year ending 31 January 2022 (FY 2022).

The Board is pleased to report that the unique market conditions which prevailed during 1H 2022 have continued unabated throughout 2H 2022.  We have benefitted from high levels of demand across the legal sector to deliver strong revenue, whilst the COVID restrictions have again caused a range of activities to be curtailed resulting in one off cost savings. Once again, we have seen that the implementation of COVID related restrictions negated the traditional pre-Christmas slowdown with performance levels remaining strong throughout the Christmas period.  Accordingly, the Board now expects to report adjusted profit before tax for the period which will be materially ahead of current market expectations.

James Knight, Chief Executive Officer of Keystone, said: "I am delighted with the way that the business has performed this year. Demand across the legal marketplace has been high throughout the period and the Keystone model, designed culturally and technologically to enable flexible and remote working, has ensured that our lawyers have been perfectly positioned to take advantage of this."

The Group will be announcing its final results for the year ending 31 January 2022 on Thursday 28 April 2022.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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Notes to editors

Keystone is an award-winning law firm, providing conventional legal services to SMEs and high net worth individuals in a £9bn addressable market.

Keystone has a scalable and unique model, with three defining characteristics:

• Our lawyers have freedom, flexibility and autonomy, and are paid up to 75% of what they bill.
• Our lawyers determine how, when and where they work, in contrast to the conventional law firm model.
• We offer lawyers full infrastructure and support via its central office, 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 380 high calibre self-employed Principals who work from their own offices.

In November 2020, Keystone was named Law Firm of the Year by The Lawyer, the first time a 'new' law firm has won the award.

More information about Keystone can be found at www.keystonelaw.co.uk.