23rd May 2019 12:05
LONDON (Alliance News) - Gateley Holdings PLC on Thursday said it is looking forward with confidence as its revenue and profit rose in the recently ended financial year.
The legal advice firm said trading in the second half of the financial year has remained "strong", with both revenue and profit growth. This enabled the company to invest further in the business, it said, and increase dividend.
Gateley expects to report revenue, for the financial year to the end of April, not less than GBP102 million compared to GBP86.1 million generated a year prior.
Adjusted earnings before interest, taxation, income, depreciation and amortisation are expected to come in at not less than GBP19 million, up 15% from GBP16.5 million a year ago, and reported profit after tax is forecast not less than GPB13 million versus GBP11.8 million, an increase of 10%.
The company noted that its acquisition pipeline remains strong, as it seeks additional growth opportunities through complementary professional services.
"I am delighted that the business has broken the GBP100 million turnover barrier for the first time and delivered another excellent performance, whilst continuing to take advantage of further opportunities to diversify our revenue streams through complementary acquisitions," said Chief Executive Michael Ward.
He added: "We look forward to the future with confidence."
The company's results for the year ended to April 30 will be announced on July 16.
Gateley shares were down 2.4% on Thursday at 165.95 pence a share.
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