Gateley (Holdings) PLC Trading Update (6984X)
06 May 2021 - 04:00PM
UK Regulatory
TIDMGTLY
RNS Number : 6984X
Gateley (Holdings) PLC
06 May 2021
6 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
GATELEY (HOLDINGS) PLC
("Gateley" or the "Group")
TRADING UPDATE
Gateley (AIM:GTLY), the legal and professional services group,
provides the following update in respect of the Group's trading for
the year ended 30 April 2021 ("FY21").
The Board is pleased to report that, following a very strong end
to the financial year, revenue in FY21 is expected to be materially
ahead of consensus market expectations*. As a result of the Group's
continuing prudent approach to costs and cash management,
profitability is therefore expected to be more significantly ahead
of consensus market expectations with a cash position at 30 April
2021 substantially ahead of consensus market expectations.
The Board confirms that it intends to recommence dividend
payments, and will pay a dividend for this financial year in line
with its previous policy of distributing up to 70% of profit after
tax. The Board is also pleased to announce that as part of this
total dividend payment for the year, it intends to declare an
interim dividend of 2.5p per ordinary share, details of which will
be announced in due course.
Rod Waldie, Chief Executive Officer of Gateley, said:
"I am delighted to report this outperformance, which
demonstrates the Group's well balanced and resilient business model
and provides further validation of our strategy to continue to
build a substantial and well-diversified professional services
group."
Further details will be provided in a pre-close trading
statement, which will be announced later this month.
*Gateley believes consensus market expectations, prior to this
announcement were: revenue of GBP111.7m, Adjusted PBT of GBP14.7m
and net cash of GBP8.4m.
Enquiries:
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 (0) 121
234 0196
Nick Smith, Acquisitions Director and Head Tel: +44 (0) 20 7653
of Investor Relations 1665
Cara Zachariou, Head of Corporate Communications Tel: +44 (0) 121
234 0074 /
Mob: +44 (0) 7703
684 946
finnCap - Nominated adviser and broker Tel: +44 (0) 20 7220
0575
Matt Goode / James Thompson (Corporate Finance)
Andrew Burdis (ECM)
N+1 Singer - Joint broker Tel: +44 (0) 20 7496
3000
Peter Steel (Corporate Finance)
Rachel Hayes (Corporate Broking)
Belvedere Communications Limited - Financial
PR
Cat Valentine (cvalentine@belvederepr.com) Mob: +44 (0) 7715
769 078
Keeley Clarke (kclarke@belvederepr.com) Mob: +44 (0) 7967
816 525
gateleypr@belvederepr.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTDKPBPCBKDQPK
(END) Dow Jones Newswires
May 06, 2021 02:00 ET (06:00 GMT)
Gateley (holdings) (LSE:GTLY)
Historical Stock Chart
From Feb 2024 to Mar 2024
Gateley (holdings) (LSE:GTLY)
Historical Stock Chart
From Mar 2023 to Mar 2024