Gateley (Holdings) Plc, a professional services group, announces its audited results for the year ended April 30, 2024. The Group delivered a good financial performance, increasing revenue by 6.0% to £172.5 million, extending Gateleys unbroken record of revenue growth since its IPO in 2015. The Groups diversified business model yielded organic revenue growth of 2.8%, comprising 0.8% in Legal and 9.1% in Consultancy services. Consultancy revenues now account for 28.9% of the Group, up from 25.7% in the previous year. The Groups utilization rate for the period was 83%, just below its operational target of 85%. The Groups balance sheet remains strong, maintaining a net cash position, and it has significant headroom in its banking facilities to enable further investment in organic and acquisitive opportunities. The Groups revenue for the period was £172.4 million, with an underlying profit before tax of £23.0 million and a reported profit before tax of £14.0 million. The Groups basic earnings per share were 7.74p, and it maintained its dividend to investors at 9.5p per share.
| Year | Group revenue | Group underlying operating profit | Group underlying profit before tax | Net assets | Net cash |
|---|---|---|---|---|---|
| 2024 | £172.5m | £20.3m | £23.0m | £80.3m | £3.8m |
| 2023 | £162.7m | £25.0m | £25.1m | £78.1m | £4.3m |
| Change | 6.0% | (18.9%) | (8.1%) | 2.8% | (11.6%) |