Law Firms

Gateley revenues up 24% in H1

Looking ahead, the firm said that its strong trading in H1 22 is expected to continue into H2 22

Gateley has welcomed a “strong” financial performance in the half-year ended 31 October 2021, with revenue and profit before tax up by 23.5% and 19.5% respectively.

While the firm performed well as a whole, revenue from its consultancy business grew “substantially” over the period, increasing 33.9% to £8.3m, up from £6.2m in H1 21.

In addition, trading margins were ahead of pre-pandemic levels, with an adjusted underlying profit margin of 13.7%, up from 13.3% in H1 20.

It comes as the group made two “significant acquisitions” over the period, with the addition of Tozer Gallagher, which added quantity surveyors to its Property Platform, and Adamson Jones, which added patent and trade mark attorneys to its Business Services Platform.

Looking ahead, the firm said that its strong trading in H1 22 is expected to continue into H2 22, as demand for its combined legal and consultancy services “remains high”. It added it was on track to meet market expectations for the year ending 30 April 2022.

Rod Waldie, CEO of Gateley, said: “I would like to thank all of my colleagues for this excellent performance in H1 22.  We have delivered strong, predominantly organic, revenue and profit growth on a like-for-like basis and have returned the group to pre-pandemic profit margins.

“The aggregation of complementary legal and consultancy services on our four market-facing Platforms of Corporate, Business Services, People and Property continues to differentiate Gateley, strengthen our appeal to clients and enhance our resilience. Our first segmental reporting on this basis shows strong like-for-like revenue growth in each platform.”

He added: “Our balance sheet remains strong, and we are committed to investing in our Platform strategy, to seize attractive growth opportunities.  Our post period end acquisition of Adamson Jones is very recent evidence of this.  Our acquisition pipeline is strong, and we are actively engaging with opportunities for further growth across each of the platforms.

“Current levels of activity are expected to continue throughout H2 22. We are therefore well positioned to deliver market expectations for the full year.”

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