Gateley flags robust full-year performance

(Sharecast News) - Legal and professional services company Gateley reported a robust performance in a trading update on Friday, with significant revenue growth in the financial year just ended.

The AIM-traded firm said revenue for the 12 months ended 30 April was expected to top £161m, representing a 17% increase compared to the prior year's revenue of £137.2m.

Underlying adjusted profit before tax was meanwhile anticipated to be in line with market expectations.

Gateley reported a strong financial position, with net cash pre-IFRS 16 liabilities amounting to £4.3m at the end of the period.

"I am pleased with the performance of the group, in what has been a challenging year politically and economically," said chief executive officer Rod Waldie.

"I would like to thank our ever-expanding client base for their trust and support and our people who continue to work tirelessly to constantly deliver for our clients."

Waldie said that, while the macro challenges facing the economy remained, the firm was looking forward to continuing to grow and diversify its business further, both organically and through acquisition.

"We remain committed to our purpose of delivering results that delight our clients, inspire our people and support our communities, and deliver strong returns for all of our stakeholders."

Gateley said it would publish its audited results for the 2023 fiscal year in late July.

At 1148 BST, shares in Gateley Holdings were down 1.81% at 163p.

Reporting by Josh White for Sharecast.com.

Gateley Holdings