Market announcement / 2 Jun 2023

FY23 Trading Update: Growth in line with market expectations

Gateley (AIM: GTLY), the legal and professional services group, is pleased to announce a trading update for the year ended 30 April 2023 (“FY23”), ahead of the publication of its audited results in late July 2023.

The board is pleased with the Group’s performance for FY23, a year of further revenue growth demonstrating the resilience of the Group’s diversified business model. Revenue for FY23 is expected to be not less than £161m, a c.17% increase on the prior year (FY22: £137.2m) with underlying adjusted profit before tax expected to be in line with market expectations. The Group had net cash (pre IFRS 16 liabilities) of £4.3m at the period end.

Commenting, Rod Waldie, Chief Executive Officer of Gateley, said:

“I am pleased with the performance of the Group, in what has been a challenging year politically and economically. I would like to thank our ever-expanding client base for their trust and support and our people who continue to work tirelessly to constantly deliver for our clients.

“Whilst the macro challenges facing the economy remain, we look forward to continuing to grow and diversify the business further, both organically and via acquisition. We remain committed to our purpose of delivering results that delight our clients, inspire our people and support our communities, and deliver strong returns for all of our stakeholders.”

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