Law firm Gateley reports on ‘solid’ half year

Michael Ward, CEO of Gateley
Michael Ward, CEO of Gateley
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COMMERCIAL law firm Gateley, which has an office in Leeds, today said it had achieved a “solid” six months trading performance in a tough market.

In the six months ended October 31 2015 - which is the first six months of the business trading as a Plc - revenue rose by 10.9 per cent to £29.6m. Profit before tax rose 11.5 per cent to £2.9m

Gateley said it had secured eight new lateral partner hires since May 1 with overall staff numbers increasing from 604 to 622 over the six month reporting period.

Michael Ward, the CEO of Gateley, said: “I am delighted with the performance of the business during the six month period to October 31 2015, a period in which we have achieved and in some cases over-achieved against the targets we set ourselves at the time of our IPO in June 2015.

“The group’s ability to deliver a strong first half performance, in an improving but challenging market, whilst at the same time transitioning the business from an LLP to a Plc not only highlights the capabilities of the senior management team but also reconfirms our strategy of using our more flexible Plc status to enhance shareholder value through organic growth and strategic acquisitions.

“These results represent a very solid start to our life as a Plc and I believe will serve to further raise our profile, differentiate us from our direct competitors and attract quality staff. As such, the Board looks forward to the remainder of its first year as a Plc with confidence.”