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Keystone Law Group Plc issued a full-year trading update on 18 February 2026 for the year ended 31 January 2026, stating that its Board expects FY 2026 revenue and adjusted PBT to be marginally ahead of current market expectations of £108.9m and £14.4m, respectively. During the period, Keystone recruited 61 new Principals, increasing total fee earners by 13.5% to 654, with revenue per Principal up just under 10% on FY 2025. The company also announced it will release its final results for FY 2026 on 29 April 2026.
| Date | 18 Feb 2026 |
| Time | 07:00:06 |
| Category | Trading updates |
| ID | 4054T |
18 February 2026
Keystone Law Group Plc
('Keystone', the 'Group' or the 'Company')
Full Year Trading Update
And
Notice of Results
Keystone to deliver revenue and adjusted PBT marginally ahead of current market expectations(1) for FY2026
Buoyant trading conditions during the Period underpinned by ongoing client demand
Keystone, the tech-enabled platform law firm, is pleased to announce the following trading update for the year ended 31 January 2026 ("FY 2026" or the "Period").
Keystone's lawyers performed strongly across the business, with buoyant trading conditions during the Period underpinned by ongoing client demand delivering an increase of just under 10% on FY 2025 revenue per Principal and an improved financial performance.
Recruitment of 61 new Principals, together with a net increase in Pod members of 36, has driven the total fee earners numbers up by 13.5% to 654 (Principals up 7.7% to 491 and other fee earners up 35.8% to 163).
These factors underpin both the current and future performance of Keystone and the Board now expects the Group to deliver FY 2026 revenue and adjusted PBT marginally ahead of current market expectations(1).
James Knight, Chief Executive Officer of Keystone, commented:
"I am delighted that Keystone has delivered such an impressive performance across 2026, beating market expectations.
These financial results, supported by a strong operational performance across the business, are testament to the broad appeal of Keystone's brand and our ongoing ability to attract and retain highly successful lawyers.
Our position as the premier tech-enabled platform law firm, supported by the strength of our business proposition to both lawyers and their clients, reinforces our ongoing confidence to drive the business forward to deliver sustainable long-term success for all stakeholders."
(1) Current market expectations for FY 2026: revenue £108.9m and adjusted PBT £14.4m
Notice of results
Keystone will be announcing its final results for the year ended 31 January 2026 on Wednesday, 29 April 2026.
Analyst Briefing
A virtual meeting for sell-side analysts will be held virtually at 9.30 a.m. on Wednesday, 29 April 2026. 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 Thursday, 30 April 2026.
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.
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
+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
+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 a highly scalable, premier tech-enabled platform law firm. Ranked within the UK Top 100 law firms, providing conventional legal services in a £12bn addressable market through its differentiated platform model which has three defining characteristics:
· 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.