Business
Audited Results 2023
Audited Results 2023.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n\n6 September 2023\n \nGateley (Holdings) Plc\n(\"Gateley\", the \"Group\" or the \"Company\")\n \nAUDITED RESULTS 2023\nContinuing track record of delivery\n \nGateley (AIM: GTLY), the professional services group, announces its audited results for the year ended 30 April 2023 (\"FY23\" or the \"Period\"), which continue its unbroken record of year-on-year revenue and underlying profit growth.\n \nThe Group delivered a strong financial performance in FY23, through its diversified and resilient business model, benefitting from a full year's contribution from the prior year's acquisitions, Adamson Jones Limited and Gateley Smithers Purslow Limited.\n \nThe Group achieved organic revenue growth of 6.2%, despite macro-economic headwinds, which created challenging market conditions in the second half of the year.\n \nThe balance sheet remains strong and the Group has significant headroom in its banking facilities to enable investment in organic and acquisitive growth opportunities, to further the board's diversification strategy.\n \nFinancial highlights\n \nWe present below our financial performance for the Period both on an underlying and statutory basis. Underlying results are before the adjustments resulting from changes in acquisition accounting treatment of consideration now adopted, which has no cash impact and is explained in the Chief Financial Officer's Review.\n \n\n\n\n\nUnderlying\n\n\nFY23\n\n\nFY22\nRestated\n\n\nChange\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n\nGroup revenue\n\n\n£162.7m\n\n\n£137.2m\n\n\n18.6%\n\n\n\n\nGroup underlying operating profit1\n\n\n£25.0m\n\n\n£22.5m\n\n\n11.1%\n\n\n\n\nGroup underlying profit before tax1\n\n\n£25.1m\n\n\n£21.6m\n\n\n16.2%\n\n\n\n\nUnderlying adjusted fully diluted EPS2\n\n\n16.28p\n\n\n14.54p\n\n\n12.0%\n\n\n\n\nDividend per share\n\n\n9.5p\n\n\n8.5p\n\n\n11.8%\n\n\n\n\nNet assets\n\n\n£78.1m\n\n\n£75.1m\n\n\n4.0%\n\n\n\n\nNet cash3\n\n\n£4.3m\n\n\n£10.4m\n\n\n(58.7)%\n\n\n\n\n \n\n\n\n\nReported\n\n\nFY23\n\n\nFY22\nRestated\n\n\nChange\n\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n\nGroup profit before tax\n\n\n£16.2m\n\n\n£26.8m\n\n\n(39.6)%\n\n\n\n\nGroup profit after tax\n\n\n£12.2m\n\n\n£23.0m\n\n\n(47.0)%\n\n\n\n\nBasic earnings per share ('BEPS')\n\n\n9.77p\n\n\n19.35p\n\n\n(49.5)%\n\n\n\n\n \nFo...