StockMarketWire.com - Gateley's revenue increased 18.9% to £35.2m in the six months to the end of October with adjusted EBITDA up 11.1% at £5.0m and pre-tax profits rising by 44.8% to £4.2m.

Basic earnings per share increased 55% to 3.1p and the interim dividend is up 16% at 2.2p per ordinary share.

Chief executive Michael Ward said: "Trading for the first half of the year has been good, with growth in revenue and operating profit supported by strong cash generation in line with the Board's expectations.

"I am pleased to report continued expansion of service lines and the successful acquisition of our second complementary business services company, Gateley Hamer Limited. Significant progress is being made with recruitment in our new Reading office, whilst careful and considered expansion of existing services lines continues to position us well for the second half of the year.

"Our broad client base has started to benefit from our new complementary business service lines and our people are showing exceptional long term commitment to the strategy, evidenced by a 43% take up by staff in our all staff share scheme, materially ahead of normal take-up rates for such schemes. Given the progress made by the business, the Board is pleased to announce an increase in our interim dividend to 2.2p per share.

"Opportunities for organic growth continue as our market share remains small relative to the overall size of the UK commercial legal sector. We remain on track to deliver against our expectations for the year and continue to look to maximise synergies from our recent acquisitions as their services continue to attract further interest from new and existing clients.

"We are very pleased with the progress made by the Group since IPO and the Board look forward with optimism given the opportunities it believes exist."



At 9:04am: [LON:GTLY] Gateley Hldgs Plc share price was +6.5p at 118p



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