Gateley, the legal and professional services group, has posted strong audited preliminary results for the year ended 30 April 2022 (FY22), which continue the firm’s pre and post IPO unbroken record of year-on-year revenue and profit growth, and out-performed market expectations set at the start of the year.
The company noted it has achieved significant organic growth and strengthened the business further through diversification and investment into new complementary service lines, while maintaining control on costs in the face of market specific and macro-economic headwinds.
It added that the balance sheet remains strong and the group has significant headroom in its banking facilities to invest in further organic and acquisitive growth opportunities.
During the year Gateley posted group revenue of £137.2m, up from £121.4m in the year prior.
Profit before tax meanwhile hit £18m, up from £16.3m.
Three earnings-enhancing acquisitions were completed in the period.
Rod Waldie, CEO of Gateley, said: “I am delighted with the group’s performance in FY22. We have delivered another set of strong revenue and profit growth figures whilst continuing to strengthen our balance sheet. Legal services generated solid organic revenue growth, comparing favourably with reported UK legal industry performance. Our consultancy service lines delivered impressive organic growth of 26.7% resulting in overall consolidated group organic revenue growth of 10.9%.
“I am particularly pleased that we completed three exciting consultancy acquisitions in the Period and achieved annualised consultancy revenue of over c.£32m as we continue to grow our complementary services, diversifying our offering and deepening our connections with our clients.
“I thank our ever-expanding client base for their trust and support throughout FY22 and for giving us the opportunity to work with them on high quality mandates. We remain committed to our purpose of delivering results that delight our clients, inspire our people and support our communities. We have a good pipeline of work and maintain our expectations for growth in FY23, despite the well-reported inflationary pressures. We look forward to continuing to grow the group, both organically and via acquisition.”
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