Gateley (Holdings) PLC Trading Update (1598G)
25 May 2017 - 4:00PM
UK Regulatory
TIDMGTLY
RNS Number : 1598G
Gateley (Holdings) PLC
25 May 2017
Gateley (Holdings) Plc
("Gateley" or the "Group")
Trading Update
Gateley (AIM:GTLY), the national commercial law and
complementary professional services group, is pleased to provide a
trading update for the financial year ended 30 April 2017.
Trading in the second half of the financial year has exceeded
expectations in revenue enabling the Group to further invest in the
business. The Group is pleased to report that, subject to audit,
revenue for the financial year ended 30 April 2017 will be not less
than GBP77 million (2016: GBP67 million). Adjusted EBITDA* is
expected to be in line with market expectations at not less than
GBP14.7 million (2016: GBP12.9 million).
The Group's legal business lines continue to perform well and
provide a strong platform for further expansion of the wider Group.
The integration of our acquired complementary businesses, together
with the continued investment in new staff and the development of
our newly opened Reading office, have been a positive focus for us
during the year.
The Board remains extremely pleased with the level of share
incentive scheme participation across the Group, as reported in our
half year statement. We continue to look to strengthen our offering
to clients and have experienced another significant year of staff
recruitment across the Group including new skills and service lines
from our complementary businesses of Gateley Capitus Limited and
Gateley Hamer Limited.
The Board expects to recommend a final dividend in line with its
stated dividend policy of distributing up to 70% of the Group's
after tax profits.
The Group results for the year will be announced in mid-July
2017.
Mike Ward, Chief Executive of Gateley commented: "I am delighted
with the continued progress made by the Group in the year. This
represents another year of expansion for us. This has been possible
due to the strength of our service offering, the depth of our
client relationships and the growth in our teams of skilled
professionals."
* Adjusted EBITDA represents earnings before interest, taxation,
income or expenses that relate to non-underlying items,
depreciation, amortisation, impairment and non-cash charges
relating to share based payments.
Enquiries:
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 (0) 121 234 0196
Nick Smith, Acquisitions Director and Head of Investor Relations Tel: +44 (0) 20 7653 1665
Cara Zachariou, Head of Communications Tel: +44 (0) 121 234 0074 or
+44 (0) 7703 684 946
Cantor Fitzgerald Europe - Nominated adviser and broker
David Foreman, Marc Milmo, Michael Reynolds (Corporate Finance) Tel: +44 (0) 20 7894 7000
Mark Westcott, Alex Pollen, Caspar Shand Kydd (Sales)
Arden Partners - Broker
John Llewellyn-Lloyd, Benjamin Cryer (Corporate Finance) Tel: +44 (0) 20 7614 5900
James Reed-Daunter (Corporate Broking)
IFC Advisory - Financial PR Adviser Tel: +44 (0) 20 3053 8671
Tim Metcalfe, Graham Herring, Heather Armstrong, Miles Nolan
This information is provided by RNS
The company news service from the London Stock Exchange
END
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