Gateley Holdings PLC on Tuesday reported its annual profit rising as its business is growing, citing a growing client base, and hiring more people.

Pretax profit in the financial year ended April 30 climbed 10% to £18.0 million from £16.3 million a year ago. Revenue rose 13% year-on-yearto £137.2 million from £121.4 million. It highlighted an achieved annualised consultancy revenue over around £32 million through consultancy acquisitions.

The Birmingham-based legal and professional services group proposed a final dividend of 5.5 pence per share versus 5.0p a year ago. This takes the total annual dividend up 13% to 8.5p from 7.5p. The company reiterated its policy under which it distributes 70% of its post-tax profits every year.

Meanwhile, Gateley increased its headcount by 27% to to 1,368 from 1,081.

Regarding its outlook, Gateley said it maintains its expectations for growth in its current financial year 2023. ‘Current year activity levels are in-line with the board’s expectations,’ it said.

‘We have a good pipeline of work and maintain our expectations for growth in financial year 2023, despite the well-reported inflationary pressures. We look forward to continuing to grow the group, both organically and via acquisition,’ Chief Executive Officer Rod Waldie stated.

Gateley Holdings shares were 0.5% higher at 189.50 pence each in London on Tuesday afternoon.

Copyright 2022 Alliance News Limited. All Rights Reserved.