StockMarketWire.com - Law-led professional services group Gateley said Tuesday it was on track to deliver full year earnings in line with market forecasts as trading in the second half had 'started well.'

The company said it was on track to deliver full year earnings in line with market forecasts, with revenues of not less than £102m and earnings (EBITDA) margins in second half of 2019 not less than those achieved previously.

The company reported adjusted EBITDA of £16.5m in 2018, and an EBITDA margin of 19.2%.

For the six months ended 31 October, the company expected to report profit before tax of £5.0m, up 18.6% on last year, and revenue growth of up 20.1% to £46.4m.

Adjusted EBITDA was forecast to rise 24.8% to £6.6m for the half.

The company pledged to continue to keep staff costs within a range of 60-65% of revenue and focus on cash flow whilst targeting cash generation between 85% and 95% of adjusted EBITDA.

Gateley proposed an interim dividend increase of 18.2% to 2.6p a share.





At 10:06am: [LON:GTLY] Gateley Hldgs Plc share price was +8.5p at 139.5p



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