Business
Half-year Results
Half-year Results.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 6664Z Gateley (Holdings) PLC 14 January 2020 \n\n14 January 2020\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). Upon the publication of this announcement via Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \nGateley (Holdings) Plc\n \n(\"Gateley\", the \"Group\" or the \"Company\")\n \nHalf Year Results for the six months ended 31 October 2019\n \nIncreased breadth and depth delivering strong first half performance\n \nGateley (AIM:GTLY), the legal and professional services group, is pleased to announce its unaudited results for the six months ended 31 October 2019 (\"the Period\"), demonstrating a strong performance with double digit growth in profitability and revenue.\nFinancial Highlights\n\n\n\n\n·\n\n\nRevenue increased by 11.8% (10.5% organic) to £51.8m (H1 19: £46.4m)\n\n\n\n\n·\n\n\nRevenue derived 93.7% from legal and 6.3% from non-legal services (H1 19: 94.8%, 5.2%)\n\n\n\n\n·\n\n\nProfit before tax increased by 10.2% to £5.5m (H1 19: £5.0m)\n\n\n\n\n·\n\n\nProfit after tax increased by 12.0% to £4.4m (H1 19: £3.9m)\n\n\n\n\n·\n\n\nBasic EPS increased by 10.11% to 3.92p (H1 19: 3.56p), underlying fully diluted EPS increased by 8.75% to 4.60p (H1 19: 4.23p) *\n\n\n\n\n·\n\n\nStrong cash generation from operations of £6.3m (H1 19: £4.3m)\n\n\n\n\n·\n\n\nRobust balance sheet, net assets increased £7.9m to £31.0m (H1 19: £23.1m) and net debt down £6m to £2.1m (H1 19: £8.2m)\n\n\n\n\n·\n\n\nProposed interim dividend up 11.5% to 2.9p per share (H1 19: 2.6p)\n\n\n\n\n* Underlying fully diluted EPS excludes share based payment charges, amortisation and exceptional items. It also adjusts for the future weighted average number of expected unissued shares from granted but unexercised share option schemes in issue based on a share price at the end of the financial year (note 5)\n \nOperational Highlights\n\n\n\n\n·\n\n\nFurther investment in driving organic growth with average fee earning staff increasing by 21.9% to 673 (H1 19: 552) and average total staff increasing by 15.2% to 998 (H1 19: 866)\n\n\n\n\n·\n\n\nTotal staff as at the date of this announcement of 1,038 (H1 1...