ASX-listed personal injury specialist Slater & Gordon has reported a net profit after tax of A$9.5m for the six months ending 31 December – a 12.1% increase over the same period last year. The firm’s revenue increased by 16.4% to A$58.8m.
Managing director Andrew Grech said the increase in revenue was almost all due to the organic growth of the business, noting that recent acquisitions contributed less than A$1m to the fee growth.
“We had relatively modest additional revenue from acquisitions in the first half and we also continued to invest in other growth initiatives,” Grech said, adding that the strong performance of Slater & Gordon’s personal injuries practices was enabling the company to continue to support the longer-term development of a broader range of legal services. “Our returns in some of the non-personal-injuries practices are not yet up to our target levels but in all cases they are improving,” he said.
Slater & Gordon is expecting A$4m in additional revenue for the second half of the year from its recently completed acquisitions. The firm will use part of that income to launch a new national advertising campaign later this month.
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