Listed firm Gateley Plc entered the stock exchange on the back of a 10% increase in turnover, results today showed. 

A trading update filed with the alternative investment market (AIM) this morning revealed revenue for 2014/15, ending on 30 April, is expected to be around £60m.

The statement also said that profits are expected to be ‘in line with management expectations’, although no profit figures were published.

Gateley, which became the first UK firm to float in its own right on the London Stock Exchange in June, will announce its preliminary results on 15 September.

Michael Ward (pictured), chief executive of Gateley, said: ‘We are encouraged to report such a strong trading statement, our first as a public company. 

‘Post-admission to AIM, Gateley continues to trade very well and we look to the future with confidence.’

The share price opened at 99p per share and reached an all-time high of 103p on 18 June. This morning it had returned to 99p per share.

Gateley Plc raised £30m when it was admitted to trading its shares on AIM, London Stock Exchange’s international market for smaller growing companies.

Meanwhile, the Solicitors Regulation Authority, which licensed Gateley as an alternative business structure, has said the firm has shown a ‘new way forward’ in opening up the market through a flexible practice.

Paul Philip, SRA chief executive, said: ‘Innovation is an important driver of growth in the legal sector. It is good to see the emergence of new business models bringing investment into the sector.

‘Our work with Gateley Plc on their flotation is part of our commitment to freeing up firms to do business, supporting competition and development.’

Approved regulators have been able to license ABSs as a result of the Legal Services Act. The SRA has licensed 19 entities in total which are either listed or involved with listed companies.