Gateley (holdings) Share Discussion Threads

[epo001] 18/1/2023 14:08

And an anticipated 9.9p divi.

[jonwig] 18/1/2023 07:52

H1 results:



These look very good. This is probably the most successful quoted law firm. Integrated partnerships very well, and diversified to complementary areas.

[jonwig] 16/1/2023 16:32

Yup! They have an AIM VCT, and will have a lot of new money to invest.

[ghostdragon] 16/1/2023 15:19

Looks like Octopus Investments are building a decent stake in the company.

[jonwig] 24/11/2022 09:54

Trading statement:



Very positive, though results "in line with market expectations".

[tradertrev] 02/11/2022 18:08

Thanks jonwig, that's probably it, given that SAYE shares are held by nearly all employees, many of whom will not be well placed to bear single stock equity risk in an uncertain environment. 165p to clear though - phew!

[jonwig] 02/11/2022 17:56

Yesterday's RNS might be a clue:

Gateley announces that 121,616 ordinary shares of 10p each in Gateley have been issued, pursuant to the Group's Company Share Option Plan scheme introduced in 2018 and as a result of vesting conditions being satisfied.

The Company also announces that on 1 November 2022 the Company's Save As You Earn Option Plan 2019 matured and as a result up to 375,751 ordinary shares of 10p each in the capital of the Company may be issued pursuant to the SAYE Plan.

But that's only a guess, as the total trades has been larger than these.

[tradertrev] 02/11/2022 17:52

I see the marks on the LSE website. Closing uncrossing trade of 299k at 165p probably the key - also various clips of 30-50k during the afternoon.
Somebody wants/ed out!

[tradertrev] 02/11/2022 17:44

Interesting price action with high volume today. Can anyone with L2 and trade data shed any light?

[epo001] 28/10/2022 08:50

Has there been any news on the dividend? The payment and date were supposed to be set at the AGM. Payment was agreed but I have seen no mention of amount or date.

To answer my own question, it has just been credited to my ISA a/c, 5.5p

[tradertrev] 19/10/2022 18:02

Could work, but Liberum are corporate brokers and not independent. Personally I am waiting until they get the annual placing by ex-partners out of the way before I top up. It's quite possible that any such placing will be very small given that the shares haven't done much for over a year now.

[jonwig] 19/10/2022 17:35

Thank you ... but a source would be useful.

The share price hasn't been part of the rout these past weeks!

[tole] 19/10/2022 17:23

Gateley (Holdings) (LON:GTLY) – still growing apaceOn Thursday of this week this legal and professional services group will be holding its AGM.The year to end April saw the £231m capitalised group deliver a very strong financial performance, with it achieving a significant organic growth during the year.I am hoping for a positive Trading Statement for the progress in the current year.The group's origins can be traced back to the 19th century when the commercial law firm of Stephen Gateley & Sons was established in Birmingham.Since then, the company has grown significantly and going public boosted its ability to attract new partners and businesses into its fold.Today it is a legal and professional service group, with 700 fee-generating staff out of its total of 1,038+ people.It has offices in Belfast, Birmingham, Bolton, Chester, Exeter, Guildford, Leeds, Leicester, Llandudno, London, Manchester, Milton Keynes, Newcastle, Nottingham, Reading, Rutland and Dubai.The full-service legal offering is given by its four business groups: business services, corporate activities, people issues, and finally, property matters.It supports in over 5,700 active clients in the UK and beyond, ranging from private individuals up to FTSE100 companies.Its clients include: the BBC, Sainsburys, HS2, Samsung, McCarthy & Stone, Jaguar Land Rover, Saint Gobain, Balfour Beatty, Toyota, Danone, BAE Systems, Taylor Wimpey, de Montfort University, NCP, and Transport for London.Analyst James Allen at Liberum Capital rates the group's shares as a Buy, looking for 320p in due course.He expects the year to end April 2023 to show revenues of £162m (£137m), while pre-tax profits could rise to £26.1m (£21.6m), lifting earnings up to 16.5p (14.3p) and covering a 9.6p (8.5p) dividend per share.The group's shares, which peaked at 244p a year ago, closed at 185p on Friday night and look very attractive at that level.An easy climb to trade the 200p-220p range is more than possible.

[jonwig] 04/10/2022 06:18

Useful acquisition, and maybe a decent price:

[2vdm] 13/9/2022 06:41

Agree jonwig. Well done to the BOD. Great results.

[jonwig] 13/9/2022 06:30

Outstanding FY results today:



PER of around 13.5x doesn't do justice.

[dekle] 05/9/2022 09:20

The only share I currently hold for IHT purposes is SNX. I'd like to add to it.

[tradertrev] 05/9/2022 07:29

martke, I too am on the lookout for IHT compliant AIM companies and Gateley is on my short list too. Do you know of a definitive list of such companies, from which to select?
With Gateley I will probably wait for the roughly annual placing of shares from former partners, which usually provides a good buying opportunity.

[jonwig] 05/9/2022 06:08

FY results 13 Sept.

[martke] 29/7/2022 15:36

Positive Investors Chronicle article yesterday.
July 28, 2022,By Jemma Slingo.
"The term ‘Steady Eddie’ isn't always a compliment. It implies a plodding competence; an uninspiring dependability. When it comes to investments, however, this is sometimes exactly what's needed."

The article warns of inflation (salaries of qualified staff and lawyers rising)and competition for staff. Praises diversification into related but non legal businesses. Says the 4 "platforms", Business, Corporate, People & Property, offers diversification and makes the overall company lower risk.

Concludes, "However, those in search of stability, resilience and composure in the face of a crisis – all at a good price – should look no further".

I am looking for Inheritance Tax compliant AIM companies, so "Steady Eddies" with decent dividends are fine for me. 2023 forecast; PE 11.9. Yield 5.12%

....... Sales.....PBTm...... EPS(p) .....DPS(p)
2020... 110 .......17.8...... 12.5........ nil
2021... 121 .......19 ........13.2........ 7.5
2022... 137....... 22........ 14.1........ 8.5
2023... 160....... 25........ 16.1........ 9.8
2024... 172....... 27........ 16.5 .......10.1

[petewy] 29/7/2022 15:08

Big coverage in the IC. Thinking going back in,

[jonwig] 13/6/2022 06:52

The old manjagement were very good, getting the partners-to-PLC transition done well, and the acquisition starategy into non-legal activities underway. New managemnt seem to be accelerating the process.

Other quoted law firms seem to be buying up only law firms; I think GTLY's strategy of integrating with related but unregulated areas is the right one.

[this_is_me] 13/6/2022 06:17

Continuing progress, particularly in the smaller consultancy side of the business.

[this_is_me] 20/4/2022 07:26

Yes It looks to be a good deal. A good price and a well run operation.