Gateley, the legal and professional services group, has hailed a “strong financial performance” in its first half as the company continues to execute its diversification and growth strategy.
According to unaudited results for the six months ended 31 October 2022, revenue grew by 22.2% to £76.1m, up from £62.3m in the same period of the year prior.
Profit before tax, meanwhile, was up 9.6% to £8m, from £7.3m.
Looking ahead, Gateley said that it is “well-placed to navigate the more challenging economic environment that is beginning to emerge in the second half of the financial year” thanks to a “growing, diversified and resilient business model, combined with a strong H1 23 performance.”
Rod Waldie, Chief Executive Officer of Gateley, said: “We are delighted to report further growth derived from the increasing diversity of services on our Platforms, which now house over 1,000 fee earners. Our Group revenue and profit grew strongly, increasing by 22.2% and 9.6% respectively, within which revenue from our consultancy services grew, including by acquisition, by 104.5%.
“I thank our clients for the opportunity to work with them on a broad range of important mandates and our people for their hard work and dedication to deliver results.
“I’m proud of the progress that we are making against our Responsible Business strategy. In particular, supporting our communities is an important part of our purpose as a business and we will further connect our exceptionally talented people with organisations who provide community support in the regions in which we operate, recognising that business is a key engine of change.
“During the Period, we saw political and economic instability manifesting in uncertainty and temporary paralysis in a number of sectors. This is an ongoing situation and the economy is approaching a fork in the road where in all likelihood there is a wide range of possible outcomes across different sectors.
“In the meantime, we continue to invest in our offering and in our people so that our business remains fully equipped to deliver as positions settle in our target markets. The combined legal and consultancy offering on our Platforms, remains unique and the outlook on each of the Platforms is positive. We look forward to 2023 with a degree of cautious confidence.”
