Gateley announces 8% revenue growth
Firm reports revenue of £66m in the last financial year, its first results since flotation in June 2015
May 19, 2016 at 07:03 AM
3 minute read
The original version of this story was published on Law.com
Gateley has reported an 8% rise in revenue in its first year as a public company following its float on the AIM market in June 2015.
In an announcement to the City this morning, the firm reported revenue of £66m in the year to 30 April 2016, up from £60.9m in 2014-15.
Gateley also said it would announce a dividend in July.
The firm said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for 2015-16 would be not less than £12.6m.
However, this did not include the cost of its acquisition of tax advisory business Capitus in April for £2.72m. It is not clear if it includes costs associated with the launch of its Reading office, the firm's seventh UK location, in December 2015.
Gateley CEO Michael Ward said: "In a market that continues to be challenging, the board has remained focused on the execution of our stated strategy of long-term organic and acquisitive growth.
"The group has made excellent progress since our successful AIM admission, all of which has been made possible by the positive reaction to our flotation by our diversified client base and excellent staff."
Ward added that trading in the second half of 2015-16 had been "robust" and the firm was "well placed for future growth".
In its 2016 promotions round the firm added four new partners, which was an increase from the two the firm promoted in 2015.
Gateley became the first UK law firm to go public when it floated on the AIM market in June 2015.
Gateley has reported an 8% rise in revenue in its first year as a public company following its float on the AIM market in June 2015.
In an announcement to the City this morning, the firm reported revenue of £66m in the year to 30 April 2016, up from £60.9m in 2014-15.
Gateley also said it would announce a dividend in July.
The firm said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for 2015-16 would be not less than £12.6m.
However, this did not include the cost of its acquisition of tax advisory business Capitus in April for £2.72m. It is not clear if it includes costs associated with the launch of its Reading office, the firm's seventh UK location, in December 2015.
Gateley CEO Michael Ward said: "In a market that continues to be challenging, the board has remained focused on the execution of our stated strategy of long-term organic and acquisitive growth.
"The group has made excellent progress since our successful AIM admission, all of which has been made possible by the positive reaction to our flotation by our diversified client base and excellent staff."
Ward added that trading in the second half of 2015-16 had been "robust" and the firm was "well placed for future growth".
In its 2016 promotions round the firm added four new partners, which was an increase from the two the firm promoted in 2015.
Gateley became the first UK law firm to go public when it floated on the AIM market in June 2015.
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