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Gateley Holdings Plc

Gateley Holdings PLC Preliminary Results for the year to 30 April 2017

Gateley Holdings PLC (LON:GTLY), the national commercial law and complementary professional services group has reported its audited preliminary results for the year ended 30 April 2017, which constitutes the Group’s second annual results as a Plc following admission of the Group to trading on AIM on 8 June 2015.

 

Financial Highlights

·      Revenue increased 15.7% (2016: 10.2%) to £77.6m (2016: £67.1m)

·      Adjusted EBITDA* increased 15.5% (2016: 14.8%) to £14.9m (2016: £12.9m)

·      Profit before tax increased 18.8% (2016: 12.2%) to £13.1m (2016: £11.0m)

·      Basic EPS increased 15.3% to 9.43p (2016: 8.18p)

·      Proposed final dividend of 4.4p resulting in an increased total year dividend of 6.6p (2016: 5.639p)

·      Strong cash generation and completion of second acquisition using own cash resources

Adjusted EBITDA excludes share based payment charges and for the 2016 comparative, income or expenses that related to non-underlying items

 

Operational Highlights

·    Successful acquisition of further complementary business (Gateley Hamer acquired September 2016) with integration progressing well

·     Further investment in Group service offering across all offices with total staff numbers at 717 including most recent Reading location now employing 19 staff (including 7 legal partners)

·     All three originally planned share schemes now in place (including all staff SAYE share scheme, CSOP and Stock Appreciation Rights Schemes)

·      Strengthening balance sheet with net assets increasing to £17.4m (2016: £12.7m)

·     Expanding shareholder base following the successful sale of former partner shares in October 2016 increasing Group free float from 30% to 34.3%

·      Ranked first by deal volume both nationally and in the Midlands in the 2017 Q1 Experian Corpfin M&A Advisor League Table.  Of equal importance the Group advised on a significant number of high profile deals across all service lines

 

Michael Ward, CEO of Gateley, commented:

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.