Gateley has reported a 19 per cent increase in revenue from £29.6m to £35.2m for the first half of 2016/17. The growth result is up from the 11 per cent increase reported at the same point last year, and betters the 8 per cent full-year growth in revenue to £66m reported by Gateley in 2015/16, which was the firm’s first full-year result after floating on the AIM. Profit before tax is also up 44 per cent, from £2.93m at this point last year to £4.218m for the six months to 31 October 2016. Meanwhile, the firm’s headcount has grown 12.7 per cent since October 2015, with Gateley now employing just over 700 people.

‘On track’ after IPO

Gateley chief executive officer Michael Ward commented: ‘These are our third set of results since our initial public offering (IPO). We are delivering in accordance with the plans set out at IPO – this is confirmation we are on track.’ While conceding that there has been a ‘little bit of a drop off’ in top-end property deals this year, Mr Ward said that the year has been very much ‘business as usual’ for Gateley’s real estate and corporate teams. ‘Deals are being done,’ he said. ‘Commercial property development is ongoing there has been strong performance in our residential team.’

Sources: Legal Business; Legal Week