news Gateley posts strong trading performance
Commercial law firm Gateley plc, which has opened a new Thames Valley office in Reading, has posted its first full-year results as a plc following its admission to AIM, the Alternative Investment Market.
Revenue increased more than 10% to £67.1 million in the year to April 30, 2016, while pre- tax profits were up 12% to £11m.
Highlights in the year included the opening of the new offices at The Blade, Reading, including the appointment of four partners to date.
Gateley advised on 212 corporate deals in the year with an aggregate value in excess of £1.76 billion.
Michael Ward, CEO of Gateley, commented: “I am pleased to report that the Group has performed well in its first year as a public company. 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. Trading in the second half of the financial year ended April 30, 2016 was robust and we are pleased to report that trading in the first two months of the current financial year has been encouraging.
“We are confident that our business is well balanced and resilient and we remain focused on delivering another year of growth in our core services, while continuing to look for complementary acquisitions.”
Chairman Nigel Payne added: “These strong results, together with the successful IPO and the encouraging start the Group has made in its journey have also helped raise our profile and enhance our brand, differentiating us from our competitors and attracting quality staff who are interested in benefiting from the opportunities provided by a structure which we believe is far better suited to the legal landscape of today.”
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THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2016
businessmag.co.uk
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