Gateley, a British firm that last year raised $45 million in a landmark initial public offering, saw its gross revenue rise 11 percent in 2015-16, according to financial figures released by the firm.
The combined revenue of publicly traded Gateley plc and its Scottish arm, HBJ Gateley, was $116.1 million (£88.7 million) during its most recent fiscal year, up from $104.7 million (£80 million) in 2014-15.
Gateley floated on the London Stock Exchange’s Alternative Investment Market in June 2015, becoming the first U.K. firm to go public. In June, Gateley announced a 2015-16 revenue rise of 10 percent, to $87.8 million (£67.1 million), up from $79.7 million (£60.9 million) last year.
Regulatory restrictions in Scotland mean that the firm’s offices in Aberdeen, Edinburgh and Glasgow were not part of the public listing and trade as HBJ Gateley. The Scottish business had nearly $28.3 million (£21.6 million) in gross revenue for 2015-16.
London accounted for 7 percent of the combined firm’s revenue, while the firm’s offices elsewhere in the U.K. comprised 92 percent. The Middle East accounted for 1 percent.
In December, Gateley opened an office in Reading, England—its seventh in England—and earlier this year the firm acquired tax incentives advisory firm Capitus for $3.6 million (£2.72 million). Now renamed Gateley Capitus, the business has offices in Birmingham, England; Dublin; London; and Northern Ireland.
Gateley’s leadership spoke with The American Lawyer last summer about the firm’s decision to go public.