Business
Preliminary Results for the year to 30 April 2018
Preliminary Results for the year to 30 April 2018.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 8109U Gateley (Holdings) PLC 17 July 2018 \n\n\n\n\n\nFor Immediate Release\n\n\n17 July 2018\n\n\n\n\n \nGateley (Holdings) Plc\n \n(\"Gateley\" the \"Group\" or the \"Company\")\n \nPreliminary Results for the year ended 30 April 2018\n \n\"Continuing to build momentum and resilience into our business model\"\n \nGateley (AIM:GTLY), the law-led professional services group is pleased to report its audited preliminary results for the year ended 30 April 2018.\n \nFinancial Highlights\n· Revenue increased 11.0% to £86.1m (2017: £77.6m)\n· Adjusted EBITDA* increased 10.6% to £16.5m (2017: £14.9m)\n· Profit before tax increased 11.7% to £14.6m (2017: £13.1m)\n· Basic EPS increased 17.0% to 11.03p (2017: 9.43p)\n· Proposed final dividend of 4.8p (2017: 4.4p) representing a full year dividend of 7.0p (2017: 6.6p)\n· Strengthening balance sheet with net assets increasing to £23.0m (2017: £17.4m)\n· Strong cash generation and continued investment for future growth\n* Adjusted EBITDA excludes share based payment charges and exceptional items\nOperational Highlights\n· Strategic acquisition of housebuilder specialists GCL Solicitors acquired May 2018, adding 80 new staff\n· Further acquisition of complementary non-legal Human Capital consultancy business, Kiddy & Partners, acquired July 2018\n· Strong investment in fee earning staff with average fee earning staff numbers up 11.4% from 457 at 30 April 2017 to 509 at 30 April 2018. Total staff numbers up 8.8% from 696 at 30 April 2017 to 757 at 30 April 2018\n· All three established share schemes now well placed to enhance equity ownership (including all staff SAYE share scheme, CSOP and Stock Appreciation Rights Schemes)\n· Successful expansion of shareholder base with free float now up to 39.9%\n \n \nMichael Ward, CEO of Gateley, commented:\n\"We are delighted with the performance of the business this year, a year in which we have grown our revenues, increased our pr...