15th Dec 2015 09:48
LONDON (Alliance News) - Commercial law firm Gateley (Holdings) PLC on Tuesday said its pretax profit and revenue both increased in the first half and said it will pay its first interim dividend since listing in June.
The company said its pretax profit for the half to the end of October was GBP2.9 million, up 12% from the GBP2.6 million it made a year earlier, as revenue rose to GBP29.6 million from GBP26.7 million.
It will pay a maiden interim dividend of 1.895 pence per share.
Gateley advised on 123 corporate deals in the half, up from 117 deals a year earlier, and has made eight new lateral partner hires since May 1, as total staff numbers increased to 622 from 604 over the course of the half. Utilisation of its fee-making staff also improved, up to 85% from 83%.
"These results represent a very solid start to our life as a PLC and I believe will serve to further raise our profile, differentiate us from our direct competitors and attract quality staff. As such, the board looks forward to the remainder of its first year as a PLC with confidence," said Chief Executive Michael Ward.
Gateley shares were up 0.7% to 103.70 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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