Gateley has delivered an outstanding set of results for FY’21. Revenue increased by 10.5% to £121.4m and underlying PBT by 7.1% to £19.3m (1%/3% ahead of our recently upgraded expectations). Financial highlights include 5.5% organic growth in core Legal Services and c.£20m of free cash generation. The year end net cash position of c.£20m has already supported the resumption of dividends and paves the way for further, accretive M&A. A current year P/E rating of 15x represents a 30% discount to pe ....
20 Jul 2021
Outstanding FY’21 results, confident outlook
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Outstanding FY’21 results, confident outlook
Gateley (Holdings) Plc (GTLY:LON) | 120 0 0.0% | Mkt Cap: 158.6m
- Published:
20 Jul 2021 -
Author:
James Tetley -
Pages:
3
Gateley has delivered an outstanding set of results for FY’21. Revenue increased by 10.5% to £121.4m and underlying PBT by 7.1% to £19.3m (1%/3% ahead of our recently upgraded expectations). Financial highlights include 5.5% organic growth in core Legal Services and c.£20m of free cash generation. The year end net cash position of c.£20m has already supported the resumption of dividends and paves the way for further, accretive M&A. A current year P/E rating of 15x represents a 30% discount to pe ....