Couple of reports today on the publication of Slater & Gordon's (Australia) results..
The Lawyer Magazine (UK) writes:
Australian law firm Slater & Gordon has announced a jump in turnover of 27 per cent to hit a revenue of AUS$79.7m (£37m), just one year after it became the world's first law firm to float.
The firm recorded a 42 per cent growth in net profit over the same time period, while it also grew away from its personal injury core and into practices including commercial litigation and private client.
Managing director Andrew Grech said: "We are now very much a national practice and we can offer a broader range of legal services to our many thousands of clients."
Melbourne-based law firm Slater & Gordon Ltd says it will aggressively pursue further acquisitions in 2009, after increasing its annual net profit by 41.8 per cent.
The legal services firm made a net profit of $15.1 million for 2007/08, with total revenue increasing 26.7 per cent year on year to $79.7 million.
Slater & Gordon bought nine smaller practices in New South Wales, Queensland, Western Australia and Victoria, with new offices in Gosford, Southport and Reservoir.
"The business will see the full year benefit of revenue from the nine acquisitions completed in 2008," Slater & Gordon said.
"Further acquisition opportunities will be aggressively pursued, with the expectation that some will be completed during the year, mainly in the second half. Competition of the integration of the 2008 acquisitions is the immediate priority."
The combined annual revenues of the acquired firms was $17 million, of which $7.6 million was booked in 2008.
The firm said it will continue to grow its network of offices, particularly in high population density and regional and suburban locations, but accommodation costs would increase.
