Gateley’s maiden results shows AIM is on target

LAW firm Gateley has seen its profit increase by 32.4% and its revenue by 11% year on year.
In its first set of annual results since it floated on AIM in June – the first UK law firm to do so – Gateley also revealed it had advised on more than 250 corporate deals with an aggregate value in excess of £1.5bn in the year to April 30.
Revenue was up 11.5% to £60.9m (2014: £54.6m) while pre-tax profit up increased by 32.4% to £9.8m (2014: £7.4m).
The IPO raised £30m.
During the year the law firm’s fee generating staff numbers increased to 366 from 355.
Chief executive Michael Ward said: “Gateley’s performance in the year ended April 2015 and its admission to AIM in June 2015 has created a solid foundation from which to build the business and strengthens our ability to execute our longer term growth strategy.”
Chairman Nigel Payne, said the growth strategy of the group is based on three key pillars.
“These are to, Differentiate (through our Plc status, comprehensive service offering and service ethic), where sensible Diversify (through additional complementary non-legal businesses and acquiring legal firms or teams offering sector specialism or geographic expansion), and, very importantly, Incentivise (offering wider and earlier equity to staff),” he said.