Gateley posts double-digit revenue and profit rise in first year as public company
The law firm looks set to continue to grow after a financial year that has seen an acquisition and an office opening
July 19, 2016 at 07:37 AM
2 minute read
The original version of this story was published on Law.com
Gateley has posted a double-digit revenue increase in its first year as a publicly listed company.
The firm's results show a revenue increase of 10% to £67.1m in the year to 30 April 2016, up from £60.9m in 2014-15.
The firm's profit before tax also increased 12% to £11m, up from £9.8m the previous year.
The company's basic earnings per share also saw a rise from 7.74p in 2015 to 8.18p – an increase of 5.7%.
The results follow Gateley's successful IPO in June 2015, which raised £30m for the firm.
These increases have also come as the company opened a new office in Reading and brought in a further four partners.
In addition, Gateley acquired non-legal services business Capitus Limited, now renamed Gateley Capitus Limited. Other acquisitions look likely in the future. Gateley chief executive Michael Ward said: "We do intend to do more. However, we haven't got anything in due diligence."
Ward does not expect the Brexit process to affect the firm's growth. "We are very much on track. Our general view is very much business as usual," he said. "There will be some positives and negatives. Generally change is good for lawyers, so we can see opportunities."
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