Tuesday, August 9, 2022

Revenue and profit rise at Gateley

Gateley, the legal and professional services group, has reported “strong growth and continued trading momentum” in its unaudited results for the six months ended 31 October 2021 (H1 22).

The group, which has offices in Leicester and Nottingham, has said this places it in a strong position to deliver market expectations for the full year.

Revenue has grown 23.5% to £62.3m in H1 22, up from £50.5m in the same period of the year prior.

Profit before tax meanwhile is up 19.5% to £7.3m from £6.1m.

Revenue from consultancy (non-legal revenue services) grew substantially, increasing 33.9% to £8.3m (H1 21: £6.2m).

Rod Waldie, Chief Executive Officer of Gateley, said: “I would like to thank all of my colleagues for this excellent performance in H1 22. We have delivered strong, predominately organic, revenue and profit growth on a like-for-like basis and have returned the Group to pre-pandemic profit margins.

“The aggregation of complementary legal and consultancy services on our four market-facing Platforms of Corporate, Business Services, People and Property continues to differentiate Gateley, strengthen our appeal to clients and enhance our resilience. Our first segmental reporting on this basis shows strong like-for-like revenue growth in each Platform.

“Our balance sheet remains strong, and we are committed to investing in our Platform strategy, to seize attractive growth opportunities. Our post period end acquisition of Adamson Jones is very recent evidence of this. Our acquisition pipeline is strong, and we are actively engaging with opportunities for further growth across each of the Platforms.

“Current levels of activity are expected to continue throughout H2 22. We are therefore well positioned to deliver market expectations for the full year.”

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