Gateley (Holdings) PLC Trading update and notice of results (4141H)
24 November 2022 - 6:00PM
UK Regulatory
TIDMGTLY
RNS Number : 4141H
Gateley (Holdings) PLC
24 November 2022
24 November 2022
GATELEY (HOLDINGS) PLC
("Gateley or the "Group")
AIM: GTLY
Trading update and notice of results
Gateley (AIM: GTLY), the legal and professional services group,
is pleased to announce a trading update ahead of its half year
results for the six months ended 31 October 2022 (the "Period"),
which will be announced on 18 January 2023.
The board is pleased with the strong performance of the Group in
the Period. Revenue has grown by c.22% (H1 2022: 23%) and is
expected to be not less than GBP76.0 million.
Gateley continues to demonstrate a clear strategic focus and
increased scale, operating within a diverse and resilient business
model that, despite a global economic backdrop of inflation,
geopolitical tension and rising negative sentiment, has yielded a
pleasing first half performance. Underlying adjusted profit before
tax* has grown by c.11% (H1 2022: 14.1%) and is expected to be not
less than GBP9.4 million for the Period, (H1 2022: GBP8.5
million).
The Group has net cash and a strong balance sheet and the
business continues to trade in line with market expectations for
the financial year. Whilst mindful of the economic outlook, the
board looks forward to the second half of the financial year.
*Underlying adjusted profit before tax excludes share-based
payment charges, amortisation and exceptional items.
Commenting, Rod Waldie, Chief Executive Officer of Gateley,
said:
"In a period that included previously announced investment to
strengthen our operating model and some predicted and appropriate
post-pandemic increases in operating costs, our resilient business
model, enhanced by an increasing range of complementary services,
and our embedded 'one-team' culture, remain the driving forces
behind another strong financial performance by the Group.
"On behalf of the board, I would like to thank our clients for
their support and our dedicated people for their ongoing hard work,
commitment and can-do attitude.
"We are excited by the wide range of opportunities that are
presenting themselves to the Group and look forward to continuing
to grow the business, both organically and via acquisition, in line
with our stated strategy."
Enquiries
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 (0) 121
234 0196
Nick Smith, Acquisitions Director and Head Tel: +44 (0) 20
of Investor Relations 7653 1665
Cara Zachariou, Head of Corporate Communications Tel: +44 (0) 121
234 0074
Mob: +44 (0) 7703
684 946
Liberum - Nominated adviser and Broker
Richard Lindley / Ben Cryer / Cara Murphy Tel: +44 (0) 20
3100 2000
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
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END
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