Trading Update

RNS Number : 6590Y

Gateley (Holdings) PLC

19 May 2016

 

For Immediate Release

19 May 2016

Gateley (Holdings) Plc

("Gateley" or the "Group")

Trading Update

Gateley (AIM:GTLY), a national commercial law firm, is pleased to announce the following trading update for the financial year ended 30 April 2016.

Trading in the second half of the year has been strong and the Group's maiden results, following its admission to AIM in June 2015, continue to demonstrate strong organic growth within the business.  The Board is pleased to report results that, subject to audit, include revenue for the financial year ended 30 April 2016 being not less than £66 million and Adjusted EBITDA^* being not less than £12.6 million.  Cash generation has also been strong enabling the Group to invest in the opening of a new office in Reading together with the recent acquisition of Gateley Capitus Limited.

The Board expects to recommend a dividend in line with market expectations in the Group's results for the year ended 30 April 2016, which will be announced in July 2016.

Commenting on the results, Michael Ward, CEO of Gateley, said: "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 FY2015 was robust and the Board believes that the Group is well placed for future growth and we look forward to the current financial year with confidence."

* Adjusted EBITDA represents earnings before interest, taxation, depreciation, amortisation, impairment and non-underlying acquisition-related costs

Enquiries:
Gateley (Holdings) Plc Neil Smith, Finance Director	Tel: [phone]
Nick Smith, Acquisitions Director and Head of Investor Relations Kathryn Hobbs, Interim Head of Communications	Tel: [phone] Tel: [phone]
Cantor Fitzgerald Europe - Nominated Adviser and Broker	Tel: [phone]
David Foreman / Philip Davies / Michael Reynolds (Corporate Finance)
Mark Westcott / Caspar Shand Kydd (Sales)
Buchanan - Financial PR Adviser	Tel: [phone]
Mark Edwards / Henry Harrison-Topham / Helen Born / Jane Glover	[e-mail]

 

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