3rd Jun 2025 11:22
(Alliance News) - Gateley Holdings PLC on Tuesday said revenue grew 4% in its latest financial year, driven by organic expansion and recent investments, as it maintained its annual dividend despite a swing to net debt.
The Birmingham, England-based legal and consultancy firm expects revenue of at least GBP179.0 million for the year ended April 30, up from GBP172.5 million the previous year. Organic growth accounted for around 3% of the increase.
Underlying pretax profit is expected to be broadly in line with market expectations, the company said. Consensus compiled by Gateley points to revenue of GBP183.5 million and adjusted pretax profit of GBP23.8 million.
Gateley noted that its underlying operating margin was stable year-on-year, though lower interest rates and the resulting decline in interest income weighed on overall performance.
Net debt stood at GBP6.6 million at the end of the financial year, swinging from net cash of GBP3.8 million a year prior. The company attributed the change to strategic funding of its employee benefit trust to support staff incentive plans.
Gateley plans to propose a final dividend of 6.2 pence per share, keeping its total annual dividend unchanged from the prior year at 9.5p. Earlier this year, the company proposed an interim dividend of 3.3p.
Chief Executive Officer Rod Waldie said the group entered the new financial year with "good momentum," supported by increased returns from recent investments and an expanded GBP80 million credit facility.
"Gateley is well positioned to further execute its strategy in financial 2026, both organically and with an active acquisition pipeline," Waldie said. Results for the year will be announced on July 15.
Gateley shares were 1.2% lower at 127.94 pence each in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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