- Revenue per principal up 4 per cent
- Strong client demand
Concerns about Keystone Law’s (KEYS) growth prospects have weighed on its share price in recent months. Can a legal services platform, which needs to hire more lawyers in order to expand, thrive in today’s labour market? Or, without acquisitions, is growth destined to stall?
Its latest results suggest that Keystone is hardier than many investors feared. The group ended the year with 398 senior lawyers – referred to as principals – compared with 394 in 2022. In total, it now has 507 fee earners, compared with 481 last year. These figures are hardly spectacular but, given the state of the legal recruitment market, it was possible that Keystone’s staff base could have actually shrunk.