Tuesday 16 July 2019 5:17 pm

Gateley hits new revenue highs as acquisitions pay off

Listed law firm Gateley last year passed the £100m revenue mark for the first time as a string of acquisitions boosted its top line.

Profit before tax at the company jumped 8.9 per cent to £15.9m, on 20.2 per cent revenue growth, to £103.5m.

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The firm showed net assets of £30.6m, up from £23m in 2018, while net debt also grew to £3.2m.

“I am delighted that our legal and professional services group has broken the £100m revenues barrier for the first time, as we delivered another excellent financial performance,” said chief executive Michael Ward.

It comes in a year when the company made three acquisitions, buying GCL Solicitors, Kiddy & Partners, and International Investment Services.

Meanwhile, the firm’s total number of staff and fee-earning staff both grew by 19.8 per cent, reaching 907 and 757 respectively.

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“Our teamwork has, once again, enabled us to maintain strong momentum. We have continued to invest in our people, with staff numbers now approaching 1,000 employees, and had our most active year to date on strategic acquisitions, all of which have been successfully integrated,” Ward said.

“The new financial year has started very well and we continue to look to the future with confidence.”

Main image credit: Getty