LONDON (Alliance News) - Gateley Holdings PLC on Friday said it expects double-digit revenue growth in its current financial year, as acquisitions gave a boost to its first half.
The law firm said revenue in the six months to the end of October, the first half of financial 2019, is expected to be not less than GBP46.6 million. In the first half of financial 2018, Gateley reported revenue of GBP38.6 million.
Revenue growth is attributable to the acquisitions of GCL Solicitors and Kiddy & Partners, announced in May and July, respectively, the company said.
Gateley said it continued to invest in its staff numbers, which rose to 928 members from 791 as at the end of April.
In addition, the company said acquisitions of complementary non-legal professional services businesses remain a core part of its growth strategy to enhance its service lines and cross sell to a widened group of its clients.
Looking ahead, the company said it now expects to generate revenue of not less than GBP102 million for the year ending April 30. In financial 2018, revenue totalled GBP86.1 million.
"Our strong financial performance continues to enable the board to invest in the future of the group," said Chief Executive Michael Ward.
"These acquisitions, together with our strong underlying organic growth, demonstrate the increasing momentum across our business and the successful execution of our focused strategy," added Ward.
Gateley expects to publish its half-year results on January 8.
The stock was trading 1.4% higher on Friday at 151.10 pence a share.
Gateley Holdings (GTLY)