StockMarketWire.com - Law services group Gateley lifted its outlook on full-year revenue and earnings Friday on the back expectations for a 20% jump in first-half revenue, led by acquisitions.

Gateley said expected the group to generate revenues of not less than £102m for the year ending 30 April 2019 with an EBITDA margin comparable with that achieved in 2018. That was above previous guidance for revenue of at least £84m and adjusted EBITDA of at least £16m.

For the six months ended 31 October, revenue was expected to be at least £46.4m, an increase of 20% as compared to £38.6m form a year earlier.

Revenue growth was attributed to the acquisitions of GCL Solicitors and Kiddy & Partners announced in May and July 2018, respectively, accounting for approximately half of this increase, the company said.

'Our strong financial performance continues to enable the Board to invest in the future of the Group. It's been a busy six months, including the acquisitions of GCL Solicitors and Kiddy & Partners, in a sector showing opportunities for further strategic consolidation, said said Michael Ward, Chief Executive Officer of Gateley.

'These acquisitions, together with our strong underlying organic growth, demonstrate the increasing momentum across our business and the successful execution of our focused strategy. Client service remains at the centre of our ethos and I continue to be impressed with the dedication and skill sets of all our staff as we continue to deliver on our stakeholder promises.'


At 9:08am: [LON:GTLY] Gateley Hldgs Plc share price was +1p at 150p



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