Gateley (GTLY)

Gateley GTLY Logo

The national commercial law firm and complementary professional services group.

27-Nov-2017 – 168.5p – £180.1m – PER 15.0

Trading Update – Revenue expected to be up 10% and EBITDA to be in-line with last year.

Hardly inspiring!

5-Dec-2017 – 169.5p – £181.2m – PER 15.2

Interim Results For The 6 Months To End October 2017 – Revenue up 9.8% to £38.6m (2016: £35.2m), PBT flat at £4.2m following further investment in the business through additional staff and service lines and the Interim Dividend is also flat at 2.2p per share.

Still fails to inspire me.

21-May-2018 – 161p – £172.1m – PER 14.1

Tradiing Update For The 12 Months To End April 2018 – In-line with market expectations.

Probably fairly priced here, I remain Neutral.

17-Jul-2018 – 166p – £180.0m – PER 13.9

Preliminary Results For The 12 Months To End April 2018 – Revenue up 11.0% to £86.1m (2017: £77.6m), PBT up 11.7% to £14.6m (2017: £13.1m), Basic EPS up 17.0% to 11.03p (2017: 9.43p) with a FY Dividend of 7.0p (2017: 6.6p).

Looks OK and I still have a feeling it’s fairly priced here – I remain Neutral.

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