Listed professional services group Gateley has reported another strong set of financial results, with half-year pre-tax profits up 18.6% to £5m on turnover up 20.1% to £46.4m. The business, which made two acquisitions in the period, said organic growth accounted for half the increase in turnover in the six months to 31 October.
Gateley was the first UK law firm to go public in its own right, listing on the Alternative Investment Market in 2015. Chief executive Michael Ward today described the experience as 'an intense but highly productive journey', with headcount up 52% since listing. 'We have made significant progress in the last three years and see only greater opportunity in the future (even acknowledging political and economic uncertainty) as our broad-based, national business continues to strengthen and grow,' Ward said.
Following last year's acquisition of GCL Solicitors and headhunter Kiddy & Partners the business now has 16 legal and five non-legal business lines, a statement to the London stock exchange said. It continues to seek the acquisition of 'complementary professional and other specialist services businesses'.
Shares in Gateley (Holdings) plc rose 7.25% to 140.5p this morning, down from a high of 190p in January 2018.