Business
Results for the six months ended 31 October 2017
Results for the six months ended 31 October 2017.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 3622Y Gateley (Holdings) PLC 05 December 2017 \n\n\n\n\n\nFor Immediate Release\n\n\n5 December 2017\n\n\n\n\nGateley (Holdings) Plc\n \n(\"Gateley\" or the \"Group\")\n \nHalf Year Results for the six months ended 31 October 2017\n \n \n \nGateley (AIM:GTLY), the national commercial law firm and complementary professional services group, is pleased to announce its unaudited results for the six months ended 31 October 2017 (\"the Period\").\nFinancial Highlights\n· Revenue up 9.8% to £38.6m (2016: £35.2m)\n· Adjusted EBITDA* up 6.3% to £5.3m (2016: £5.0m)\n· Profit before tax constant at £4.2m following further investment in the business through additional staff and service lines\n· Strong and strengthening balance sheet with net assets of £16.4m (2016: £12.6m)\n· Basic EPS constant at 3.1p\n· Interim dividend of 2.2p per ordinary share (2016: 2.2p)\n* Adjusted EBITDA excludes income or expenses that relate to non-underlying items and non-cash charges relating to share based payments\nOperational Highlights\n· Activity levels remain robust enabling continued investment in the growth of the business\n· Total headcount up 6.4% in the Period to 763 including six new legal partner hires\n· Continued successful integration of Gateley Capitus and Gateley Hamer acquisitions creating cross sell opportunities\n· Investment in new Global Mobility consulting service line\n· Further staff share options were issued in the Period under existing SAYE, SARS and CSOP schemes\n· Group free float up from 34.0% to 40.3% and institutional shareholder register expanded following the successful and oversubscribed placing of former partner shares in October 2017\n \n \nMichael Ward, CEO of Gateley, commented:\n\"I am delighted with the performance of the business in the first half of the financial year. We have seen robust activity levels across the Group yielding a 9.8% increase in revenue enabling us to further invest in the business through additional staff and service lines. Whilst we remain focused on seeking further acquisition opportunities, our ability to achieve organic growth by ...