Gateley (Holdings) PLC Trading Update and Notice of Results (9119Z)
23 May 2019 - 4:00PM
UK Regulatory
TIDMGTLY
RNS Number : 9119Z
Gateley (Holdings) PLC
23 May 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
23 May 2019
Gateley (Holdings) Plc
("Gateley" or the "Group")
Trading Update and Notice of Results
"Strong performance in second half and results in line with
expectations"
Gateley (AIM: GTLY), the law led professional services group, is
pleased to announce an update on trading ahead of the publication
of its audited results for the financial year ended 30 April
2019.
Trading in the second half of the financial year has remained
strong. The Board is delighted with revenue and profit growth in
the year which has enabled the Group to not only increase its
dividends to shareholders but, also, to invest further in the
business. Subject to audit, we expect to report revenue for the
financial year ended 30 April 2019 of not less than GBP102 million
(2018: GBP86.1 million), adjusted EBITDA* of not less than GBP19
million (2018: GBP16.5 million) and reported profit after tax of
not less than GBP13 million (2018: GBP11.8 million).
The Group has recorded organic and acquisitive growth across all
of its segmental reporting lines, reflecting Gateley's strength in
depth and the benefits of continued, focused investment. Our
acquisition pipeline remains strong, as we seek additional growth
opportunities through complementary professional services. Our
staff numbers continue to grow to record levels, as we invest in
people to support the further expansion of professional services
across our national offering to clients, who will benefit from the
increased breadth, depth and scale of our expert advice.
The Board intends to recommend a final dividend in line with its
stated dividend policy. The Group's audited results for the year
ended 30 April 2019 will be announced on 16 July 2019.
Michael Ward, Chief Executive Officer of Gateley, commented:
"I am delighted that the business has broken the GBP100m
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.
"Our teamwork has once again delivered another year of strong
momentum and investment as we approach 1,000 employees and have
successfully integrated further strategic acquisitions, including
our new Guildford office location, into the growing Gateley Group.
Our national reach, built on our already well balanced business,
creates further exciting opportunities for future expansion.
"We look forward to the future with confidence."
* 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.
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 121 234 0196
Nick Smith, Acquisitions Director and Tel +44 20 7653 1665
Head of Investor Relations
Cara Zachariou, Head of Corporate Communications Tel +44 121 234 0074
Mob: +44 7703 684 946
finnCap - Nominated adviser and broker Tel +44 20 7220 0575
Matt Goode / James Thompson (Corporate
Finance)
Andrew Burdis (ECM)
N+1 Singer - Joint broker Tel +44 20 7496 3000
Richard Lindley / Peter Steel (Corporate
Finance)
Rachel Hayes (Corporate Broking)
Belvedere Communications Limited - Financial
PR
Cat Valentine (cvalentine@belvederepr.com) Mob: +44 (0) 7715 769
078
Llew Angus (langus@belvederepr.com) Mob: +44 (0) 7407 023
147
Keeley Clarke (kclarke@belvederepr.com) Mob: +44 (0) 7967 816
525
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END
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