- Gateley - a leading national full-service commercial law firm - posts adjusted pro-forma pre-tax profit of £9.8m for the year to the end of April, up 32.4% on last time.

Revenue rose by 11.5% to £60.9m and adjusted pro-forma EBITDA increased by 28.4% to £11.3m. Pro-forma total dividend yield is up 35% to 5.4% (2014: 4%).

Chairman Nigel Payne said: "In an evolving and still challenging legal marketplace the Group has delivered a pleasing set of results for the year ended 30 April 2015 which provide a solid platform for the business as we embark upon delivering on our goals and objectives as a Plc.

"The Board is focused on ensuring that Gateley is ideally positioned to maximise the opportunities from the changing marketplace in which we operate as well as from our new and more flexible Plc status. The growth strategy of the Group is based on three key pillars, which we outlined to investors at the time of the IPO.

"These are to, Differentiate (through our Plc status, comprehensive service offering and service ethic), where sensible Diversify (through additional complementary non-legal businesses and acquiring legal firms or teams offering sector specialism or geographic expansion), and, very importantly, Incentivise (offering wider and earlier equity to staff.)

"These results, together with the successful IPO and the solid start the business has made in its journey from LLP to Plc has without doubt helped raise our profile, differentiate us from our direct competitors and attract quality staff who are interested in benefiting from the opportunities provided by a structure which is far better suited to the legal landscape of today in what is an improving but nonetheless still challenging market. As such, the Board looks forward to its first year as a Plc with confidence."

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