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 Click Here for more Gateley (holdings) Charts.
Gateley (holdings) (LSE:GTLY)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Gateley (holdings) Charts.