Legal and professional services group Gateley maintained its unbroken record of year-over-year revenue and profit growth before and after the IPO, and exceeded market expectations it set at the beginning of the year.
The company recorded a 13% increase in revenue to £137.2m (£121.4m in FY21) and an after-tax profit of £14.3m, a 8.3% increase on last year (£13.2m for FY21).
Gateley made three profit-generating acquisitions during this period, to expand its real estate and commercial services platforms. A new revolving credit facility of £30 million was agreed in April, to increase flexibility in funding the group’s growth strategy.
It also increased its professional workforce by 23.6%, from 767 to 948.
The board said it expects to maintain its growth expectations in 2023 with an encouraging pipeline of new work, acquisitions and the successful integration of acquired businesses.
Rod Waldie, CEO of Gateley, said: “Legal services delivered solid organic revenue growth, comparing favorably to the reported performance of the UK legal sector. Our consulting service lines recorded an impressive organic growth of 26.7%, driving overall organic growth of the Group’s consolidated revenue of 10.9%.
“I am particularly pleased that we made three exciting consultancy acquisitions during the period and achieved annualized consultancy revenues of over £32 million as we continue to grow our complementary services, diversify our offer and to deepen our relationships with our customers”.