Gateley, the legal and professional services group, has hailed a “strong performance ahead of market expectations” in a trading update for the year ended 30 April 2022.
Revenue has increased to around £137m, up 13% on the prior year (£121.4m), while pre-tax profits have risen 10% to £18m (up from £16.3m).
The year saw three earnings-enhancing acquisitions, Tozer Gallagher in July 2021, Adamson Jones in January 2022 and Smithers Purslow in April 2022, and a new Revolving Credit Facility of £30m was agreed in April 2022, providing increased funding flexibility to support the group’s acquisition strategy.
Rod Waldie, Chief Executive Officer of Gateley, said: “We have delivered another year of strong revenue and profit growth and I am delighted with our overall performance. Our successful return to recruitment generated strong organic revenue growth of over 10%, which, allied to the completion of three exciting acquisitions, is delivering annualised consultancy revenue of over c.£32m.
“I thank our ever-expanding client base for their trust and support throughout FY22 and for giving us the opportunity to work on high quality mandates. We remain committed to our purpose of delivering results that delight our clients, inspire our people and support our communities. We have a strong pipeline of work and leave our financial performance guidance unchanged, despite the inflationary challenges, as we look forward to continuing to grow the group, both organically and via acquisition.”