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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gateley (holdings) Plc | LSE:GTLY | London | Ordinary Share | GB00BXB07J71 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 126.00 | 125.00 | 127.00 | 126.50 | 126.00 | 126.00 | 143,865 | 11:51:31 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Legal Services | 162.73M | 12.24M | 0.0930 | 13.55 | 165.87M |
Date | Subject | Author | Discuss |
---|---|---|---|
19/5/2016 07:53 | Eezy - yes, housebuilders' volumes are the key, not house prices themselves. And the government is keen (desperate!) to get more homes built. | jonwig | |
19/5/2016 07:44 | Yep PE just under 12 for 2016, and dropping to 11 for 2017, based on EPS estimates (8.95p for 2016 and 9.75 for 2017 according to Stocko). I've held since just after the IPO last spring. | imranawan | |
19/5/2016 07:24 | Yes, looks a good update IMO. Sharescope is showing a revenue forecast of £60.88m so apparently 8-9% above forecast. I reckon P/E c. 12, with a decent balance sheet and yielding 5-6% here, so pretty good value. Need good volumes in the housing market to continue presumably. I've had a few for the very boring EEZY3 portfolio FWIW. | eezymunny | |
19/5/2016 06:56 | Trading statement very positive - Revenue at least £66m (H1 £30m), EBITDA at least £12.6m (H1 £4.5m). Second-half bias has been pointed out before, so are these just in-line? | jonwig | |
14/5/2016 06:24 | Looking good and I'm anticipating a 7% annual yield here. | darryn1 | |
04/5/2016 08:25 | 81 percent of private practice lawyers say lack of capital to invest back into the firm is a major challenge—an obstacle faced in large part due to the unique capital structure of the partnership-based law firm business model Of course, a law firm can now go public. And maybe the easiest way to do that would be a reverse takeover of GTLY. Just musing. | jonwig | |
15/4/2016 10:28 | Read Arden Partner's note on Gately (GTLY), out this morning, by visiting hxxps://www.research “Gateley is a national scale legal practice ranked number 45 in the UK 100 by size of law firm (source: The Lawyer, 25 October 2015). Earnings are generated from five operating segments: Banking & Finance, Corporate, Business Services, Employee, Pensions & Benefits and Property… Further to the acquisition of Capitus last week, we have published new forecasts… An FY17 rating of just over 10x is undemanding given anticipated earnings growth in FY16 and the prospect of sustainable trends in FY17 alongside the possibility of further earnings enhancing acquisitions. With no direct peer comparator, the shares possibly exhibit a “first-mover discount”; delivery of double-digit earnings growth for FY16 will, we believe, be a catalyst for a re-rating from current levels and the shares remain particularly attractive for income funds given the 6.7% prospective yield…” | thomasthetank1 | |
11/4/2016 06:42 | Cheers jonwig. Looks like a nice fit to Gateley's core business, and they also allude to opportunities to cross-sell other services. | imranawan | |
11/4/2016 06:38 | I've applied a 20% tax charge to the operating profit. "net working capital neutral" ... I'm not sure - it may mean that there will be no adjustment of the purchase price between starting and closing the deal even if the wc of Capitus changes in the interval. | jonwig | |
11/4/2016 06:23 | I make the acquisition priced at 4.6x earnings jonwig. I'm a little unclear about when they say the "The acquisition is being made on a net working capital neutral basis." Does this mean based net working capital of Gateley will be neutral after the acquisition? | imranawan | |
11/4/2016 06:12 | Acquisition of Capitus: Bought, it seems, for 5.7x earnings and - as they said - "earnings enhancing". | jonwig | |
15/2/2016 12:08 | I'd certainly be happy with 6.30p | speedsgh | |
15/2/2016 11:17 | If they make £11.8m pre-tax (already mentioned a few times) and take a full tax charge (unlikely, I think?) that would be earnings of £9.44m, or 9p/sh. A 6.3p dividend is the sort of figure which has also been mentioned. It's good to see the share price didn't stay for long down at 96p! | jonwig | |
15/2/2016 10:25 | Dividend Policy - Gateley, (AIM:GTLY) a national commercial law firm, announces that the Board has formalised its dividend policy and is adopting a traditional twice yearly approach, paying in aggregate, up to 70 per cent. of profits after tax. Having paid an interim dividend on 22 January 2016, the next opportunity for the Board to declare a dividend will be at the time of its preliminary results for the year ending 30 April 2016, which the Board expects to announce in July. | speedsgh | |
02/2/2016 15:33 | Likewise, will not be increasing due to AIM + the fact it is a fairly recent IPO. | speedsgh | |
02/2/2016 14:45 | Agreed - he comes across as level-headed and has a long-term outlook. I've a moderate holding, and would be adding at this price but for a slight worry that they have a big exposure to housebuilders' accounts. | jonwig | |
02/2/2016 10:08 | Great spot, jonwig. Thanks. Some decent titbits to like in there: 5yr post-IPO lock-in for selling partners, company's attitude towards debt + CEO's comment that "We need to … make it a priority to deliver in accordance with expectations”. | speedsgh | |
02/2/2016 06:34 | Interview with CEO Michael Ward. The planning for the IPO is an interesting part: | jonwig | |
15/12/2015 08:24 | Thanks for replies - I should have checked seasonality and exceptional costs. These make £11.8m for the FY pretty realistic. | jonwig | |
15/12/2015 08:20 | The PBT of 2.9mm is after admission costs and one off professional costs of 926k. So actual PBT is 3.9mm. | wjccghcc | |
15/12/2015 08:03 | Agree Jonwig, that its not cheap, but I bought in largely because of the divi which looks decent based on projections. | imranawan | |
15/12/2015 07:47 | There's been a significant H2 bias last couple of years jonwig (see admission doc). Don't know why. | eezymunny | |
15/12/2015 07:20 | Half-year results: Balance sheet looks very healthy, and profits are moving in the right direction, but is it cheap at over 100p? The fact that the H1 dividend almost covers eps suggests that H2 will be a lot more profitable if it's to pay out a conventional 2:1 dividend split on H2:H1. Forecast is for a 6p or so payout for the full year, I seem to remember. EDIT: an earlier post suggests 2016, T/O £65.0m, PBT £11.8m with 6p dividend. With £2.1m PBT booked in H1 there must be some seasonal factors - unless the £11.8m number is EBITDA? | jonwig | |
02/12/2015 19:02 | True, and until they produce a full set of results, no more analysts will join in. First in the field, so some reluctance to comment. | jonwig | |
02/12/2015 16:11 | Worth bearing in mind of course that Cantor Fitzgerald are the company's Nomad/broker. | speedsgh |
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