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LONDON - Legal and professional services group Gateley (AIM:GTLY) recorded a 4.1% increase in revenue to £179.5 million for the year ended April 30, 2025, according to a corrected financial statement released Tuesday.
The company maintained its underlying operating profit margin at 11.7%, with underlying operating profit rising 3.3% to £20.9 million despite what it described as a challenging professional services market and uncertainty surrounding the General Election and Autumn Budget.
Organic revenue growth in legal services reached 3.9%, while overall activity levels increased to 87% from 83% in the previous year. The company reported that its net assets decreased by £12.8 million to £67.5 million, with a net debt position of £6.6 million compared to net cash of £3.8 million a year earlier.
Gateley proposed a final dividend of 6.2 pence per share, maintaining its total dividend for the year at 9.5 pence, unchanged from the previous year.
On a reported basis, profit before tax fell 54.4% to £6.4 million, while basic earnings per share dropped 86.8% to 1.02 pence.
The company highlighted operational achievements including the hiring of 15 new partners or partner equivalents and 73 internal fee earner promotions. It also noted that its acquisition of Richard Julian and Associates Limited was performing "well ahead of initial expectations."
Looking ahead, Gateley stated that trading in the current financial year is in line with market expectations, which it identified as revenue of £187.2 million and underlying profit before tax of £23.6 million based on analyst forecasts.
The company aims to increase its operating margins to at least 13.5% in the near term through enhancing existing revenue and realizing operational efficiencies.
This article is based on a press release statement from Gateley.
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