(Alliance News) - Gateley Holdings PLC on Thursday said it has traded in line with market expectations during the first half of the financial year, as it guides for revenue and profit to jump.
The Birmingham-based legal and professional services group said it expects revenue in the six months ended October 31 to be up 22% annually and to be at least GBP76.0 million. In the first half of financial year 2022, revenue was up 23%.
Underlying adjusted pretax profit is expected to be up 11% year-on-year and to be at least GBP9.4 million. In the same period last year, pretax profit was GBP8.5 million.
Gateley noted that it has a strong balance sheet and it continues to trade in line with market expectations. It added that it remains "mindful" of the economic outlook.
Gateley plans to announce its interim results for the six months ended October 31 on January 18.
Chief Executive Rod Waldie said: "In a period that included previously announced investment to strengthen our operating model and some predicted and appropriate post-pandemic increases in operating costs, our resilient business model, enhanced by an increasing range of complementary services, and our embedded 'one-team' culture, remain the driving forces behind another strong financial performance by the group."
Shares in Gateley were up 1.7% to 176.00 pence each in London on Thursday afternoon.
By Sophie Rose; firstname.lastname@example.org
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