Audited results released this week show a 10.2 per cent lift in turnover at Gateley to £67.1m and a 12.2 per cent increase in pre-tax profit to £11m. Cash reserves have also grown significantly, from £2.7m to £9.8m. These are strong vitals for a firm that just over a year ago became the first ever UK law firm to list on the Alternative Investment Market. In April, the commercial firm kicked off its growth strategy by making its first acquisition since becoming a publicly traded company, scooping up tax adviser Capitus. The firm also opened a new office in Reading and has made 12 new lateral hires since May 2015.

Clear skies ahead

‘We are confident that our business is well balanced and resilient and we remain focused on delivering another year of growth in our core services, whilst continuing to look for complimentary acquisitions,’ said Gateley chief executive Michael Ward, who described the results as ‘in line, if not better’ than expected. Mr Ward also appears undaunted by the uncertainty and instability facing the UK’s legal and business communities in the wake of the EU referendum result: ‘Uncertainty and change is generally good for lawyers. I’m not saying that it was a good development, but for us it’s business as usual,’ he said.

Sources: Law Gazette; Legal Business