Business
Full Year Results for the year ended 30 April 2016
Full Year Results for the year ended 30 April 2016.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 5581E Gateley (Holdings) PLC 19 July 2016 \n \n\n\n\n\n\nFor Immediate Release\n\n\n19 July 2016\n\n\n\n\n \nGateley (Holdings) Plc\n \n(\"Gateley\" or the \"Group\")\n \nFull Year Results for the year ended 30 April 2016\n \n\"Strong trading performance\"\n \nGateley (AIM:GTLY), a leading national full-service commercial law firm, reports its audited full year results for the year ended 30 April 2016, which constitutes the Group's maiden annual results as a Plc following admission of the Group to trading on AIM on 8 June 2015. The comparative period results represent the LLP's results for year ended 30 April 2015 on a pro-forma basis.*\n \nFinancial Highlights\n· Revenue increased 10.2% to £67.1m (2015: £60.9m)\n· Adjusted EBITDA** increased 13.3% to £12.8m (pro-forma 2015: £11.3m)\n· Profit before tax increased 12.2% to £11.0m (pro-forma 2015: £9.8m)\n· Basic EPS increased 5.7% to 8.18p (pro-forma 2015: 7.74p)\n· Proposed total year dividend of 5.639p (being 1.895p paid Interim dividend and 3.764p proposed final dividend) (pro-forma 2015: 5.15p)\n· Cash held at the period end increased from £2.7m to £9.8m, whilst net cash flow from operating activities was strong at 122% of profit after tax before one off transitional changes\n* Pro-forma comparative results are being used within this announcement to reflect the position of our previous LLP group structure as if the current Plc group structure had been in place during the prior year\n** Adjusted and pro-forma EBITDA excludes income or expenses that relate to non-underlying items\nOperational Highlights\n· Successful IPO in June 2015 raised £30m\n· Acquisition of Gateley Capitus Limited (including the appointment of three director shareholders)\n· Opened new office in Reading (including the appointment of four partners to date)\n· Utilisation of fee generating staff 89% (April 2015: 85%)\n· 12 new lateral partner hires since 1 May 2015. Four internal promotions to partner together with 18 ...