Gateley (holdings) Share Discussion Threads

[jonwig] 19/9/2019 06:14

Yes, AGM statement:

At today's AGM the Chairman, Nigel Payne, will read out the following statement:

"The Board is pleased to report that the good start to the year reported at the time of our full year results in July has continued, with strong trading momentum leaving us well placed at this stage of the current financial year. In July we reported being close to having 1000 employees and I am delighted to say that the headcount has, this month, broken through that number."

At the AGM today, shareholders are being asked to approve, amongst other things, a final dividend of 5.4p (2018: 4.8p) per share, which if approved, will be paid on 18 October 2019 to those shareholders on the register at the close of business on 20 September 2019. This dividend will result in a total dividend for the year ended 30 April 2019 of 8.0p per ordinary share (2018: 7.0p), representing full year dividend growth in line with PAT growth of 14.3% (2018: 6.1%).

[robsy2] 19/9/2019 06:12

Trading well.bullish.

[robsy2] 13/9/2019 09:27

yes, good steady progress.

[bbluesky] 13/9/2019 07:41

A little bit of activity this week and another very good RNS out today:


Michael Ward, CEO of Gateley, said:

"We are delighted with the excellent performance of Kiddy since its acquisition in July of last year. Kiddy broadens and strengthens our people services offering within our employment, pensions and benefits group. Results to date demonstrate clear opportunities for us to collaborate and deliver integrated advice and services to a broader set of large-scale employers across a wide range of industries. Kiddy has grown almost 37% ahead of original expectations, generating £3m of fees since acquisition. Kiddy represents our first acquisition in the exciting Human Capital sector, which when placed alongside our global mobility and Entrust pension trustee operation, moves our business further forward, offering employers a range of high class legal and consultancy services."

And with a final ex-divi 19 Sept of 5.4p (8p full year - up 14%), I think it will be a good mood AGM that day!

[sallad3] 12/8/2019 13:51

jonwig

I have sent you a message via the advfn system as I don't want to clutter this board up. It does relate to the Hardman etc matter.

[jonwig] 30/7/2019 15:55

Hardman research note. The author, Steve Clapham, is an expert on dodgy accounting:

[jonwig] 30/7/2019 06:36

Acquisition of Persona Associates:



Looks an obvious good fit, as they have worked together for years.Website:

[bbluesky] 16/7/2019 18:03

Quite agree Thisisme. Though I think the upside could be spectacular, as it happens.

Put this on KGH, another in the sector sparkling.

"Well, there is no doubt that the sector is going gangbusters and the pressure on the dam wall is rising with all the great results. I am convinced when it breaks it will be big, but hey-ho still in limbo. Charts look good, fundamentals superb, just needs a spark.In the meantime, fill yer boots, these opportunities only come at bear market bottoms, which is where i think we are. FTSE has not broken 7500 in 17 years! In real terms...10,000 here we come and in that time the sector will be seen as extra +ve. Take a holiday, sit back, relax, dream."

[this_is_me] 16/7/2019 06:28

Yes just an invest and forget holding; nothing really spectacular but very good steady progress.

[bbluesky] 16/7/2019 06:11

Stunning prelims out. Soundbite: divi going up 14.3%this year. Other figures equally exciting.

[jonwig] 11/6/2019 15:23

Not bad, sale above current bid:

"Gateley (AIM: GTLY), the law led professional services group, is pleased to announce that the Company's Employee Benefit Trust ("EBT") has today sold 600,000 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") to satisfy institutional demand at a price of 162p per Ordinary Share (the "Sale")."

[jonwig] 09/6/2019 09:22

GTLY covered in the Hardman Monthly, page 27:



Summary:

Gateley is a fully invested, consistent performer in a new and exciting space, which is likely increasingly to attract investor attention. It is a high-quality professionalservices group with significant growth potential, an excellent track record of delivery, a strong management team, and a strategy to diversify further in complementary professional services.

[bbluesky] 23/5/2019 12:38

epo 001 many thanks. Even better, of course and even more enticing. Just to show a comparison with a high quality and select breed:

Published on II this morning from Stockopedia


Name Yield % Dividend Cover DPS Increases (past 10 years) DPS Gwth % (current year) DPS Gwth % (forecast next year)

Sage 2.2 1.8 9 5 4.12
ABF 1.8 2.9 9 51.8 3.9
Diageo 2.1 1.8 9 4.9 6.4
Schr 3.7 1.8 9 0.9 0.2
Burb 2.4 2 9 2.9 5.2
Informa 2.9 1.9 9 7.1 5.6
L & G 6.2 1.8 9 7 6.9
Compass 2.2 2 9 11.3 8.6
STJ 4.4 0.7 9 12.5 7.1
Pru 3.1 2.9 9 5 5.79
Source: Stockopedia

[epo001] 23/5/2019 12:21

bbluesky, that differed from my spreadsheet which made it 4.54% and I spent some time with my calculator digging around. The HL yield is based on the last year's dividend (2.2+4.8p). My yield is based on the last 2 divi payments (2.6+4.8p). In the presence of rising dividends, HL will always understate the yield.

[epo001] 23/5/2019 11:11

jonwig, thank you.

[bbluesky] 23/5/2019 09:48

Which by Hargreaves Lansdown's calculations is currently a sumptuous 4.23%.

[jonwig] 23/5/2019 08:24

It's in the 2015 prospectus:

The Board intends to adopt a progressive dividend policy to reflect the expectation of future cash flow generation and long-term earnings potential of the Group.

Based on the above expectations, the Directors intend that the Group will pay an interim dividend and a final dividend to be announced at the time of the interim and preliminary results in approximate proportions of one-third and two-thirds, respectively, of the total annual dividend.

It is expected that the first dividend payment will be announced with the interim results for the year ending 30 April 2016.

It is the intention, subject to the availability of distributable reserves and where the cash flow requirements of the Company mean it is prudent to do so, to pay as dividends up to 70 per cent. of adjusted profits after tax. The Board may however revise the Group’s dividend policy from time to time in line with the actual
results of the Group.

I don't think it's been changed since.

[epo001] 23/5/2019 08:10

The RNS states that dividends will be in line with their stated dividend policy. I can't seem to find this dividend policy statement, anyone got a link?

[this_is_me] 23/5/2019 06:16

Yes, it looks good, sensible policies giving steady progress.

[jonwig] 23/5/2019 06:08

Yes, trading update:



"In-line" with expectations, so eps of 12.5 - 13p. General trend looks positive.

[bbluesky] 21/5/2019 16:41

Flurry of positive activity post lunch,so maybe an update tomorrow?

[jonwig] 05/5/2019 13:47

GTLY covered in the Hardman Monthly, p21: