Gateley (Holdings) Plc
(“Gateley” or the “Group”)
Gateley, (AIM:GTLY) a national commercial law firm is pleased to announce the following trading update for the financial year ended 30 April 2016.
Trading in the second half of the year has been strong and the Group’s maiden results, following its admission to AIM in June 2015, continue to demonstrate strong organic growth within the business. The Board is pleased to report results that, subject to audit, include revenue for the financial year ended 30 April 2016 being not less than £66 million and Adjusted EBITDA* being not less than £12.6 million. Cash generation has also been strong enabling the Group to invest in the opening of a new office in Reading together with the recent acquisition of Gateley Capitus Limited.
The Board expects to recommend a dividend in line with market expectations in the Group’s results for the year ended 30 April 2016, which will be announced in July 2016.
Commenting on the results, Michael Ward, CEO of Gateley, said:
I am pleased to report that the Group has performed well in its first year as a public company. In a market that continues to be challenging the Board has remained focused on the execution of our stated strategy of long term organic and acquisitive growth. The Group has made excellent progress since our successful AIM admission, all of which has been made possible by the positive reaction to our flotation by our diversified client base and excellent staff.
“Trading in the second half of FY2015 was robust and the Board believes that the Group is well placed for future growth and we look forward to the current financial year with confidence.”
* Adjusted EBITDA represents earnings before interest, taxation, depreciation, amortisation, impairment and non-underlying acquisition-related costs
Gateley Holdings plc
Neil Smith, Finance Director +44 121 234 0196
Nick Smith, Acquisitions Director and Head of Investment Relations +44 207 653 1665
Kathryn Hobbs, Interim Head of Communications +44 121 234 0084
Cantor Fitzgerald Europe – Nominated adviser and broker
David Foreman, Phil Davies and Michael Reynolds, Corporate Finance +44 207 894 7000
Mark Westcott and Caspar Shand Kydd, Sales +44 207 894 7000
Buchanan – Financial PR adviser
Mark Edwards, Henry Harrison-Topham, Helen Chan, Jane Glover +44 207 466 5000