The Gateley (Holdings) Plc board proposes an interim dividend of 3.3p (H1 23: 3.3p) per share. This dividend will be paid on 28 March 2024 to shareholders on the register at the close of business on 23 February 2024. The shares will go ex-dividend on 22 February 2024. This dividend has not been recognised as a liability in the interim accounts.
Other financial highlights include:
Resilient financial performance with revenue and underlying profit before tax up 7.6% (H1 23: 22.2%) and 4.6% (H1 23: 9.6%) respectively, against a challenging macro-economic backdrop
Group organic revenue growth of 5.1% (H1 23: 9.8%)
Legal services revenue grew entirely organically by 2.4% (H1 23: 8.2%)
Revenue from consultancy services represents 27.6% of total revenue at £22.6m (H1 23: £18.2m or 23.9%), of which organic growth was 13.5% (H1 23: 20.0%)
Underlying profit margin decreased to 12.2% (H1 23: 12.6%) as a result of investment in future growth including a 3.5% increase in fee earners, improved technology and continued M&A
Activity levels across the Group decreased with utilisation at 83% (H1 23: 86%)
Strong balance sheet with net debt of £2.2m at the Period end (H1 23: net cash £1.1m)
