Legal and professional services firm Gordon Dadds (LON:GOR) reported a 25 percent rise in revenue in the year to the end of March, sending shares up over 7 percent.
Annualised revenues at the year totalled more than £42 million, with operating profits up 19.1 percent to £8.80 million. Adjusted profit before tax rose 23.3 percent to £2.96 million, with the group having a cash balance of £8.9 million at the year’s end.
Over the course of the year the firm raise over £20 million in new funds, opening an office in Hong Kong as well as having several acquisitions in the pipeline.
Adrian Biles, Chief Executive of Gordon Dadds, commented:
“This has been a year of great progress for the Group. We have exceeded the expectations that we set for ourselves and for our shareholders.
“We have rapidly built a highly profitable and fast growing international legal and professional services group with annualised revenues of well over £40 million.
“We expect to achieve significant further growth during the year from additional acquisitions, together with organic growth arising principally from the increasing cross-referral of clients between the Group’s businesses and as the more specialised businesses take advantage of the Group’s full service capabilities.”
Shares in Gordon Dadds plc are currently trading up 7.02 percent at 173.9 (0938GMT).
