Listed firm Integrated Legal Holdings has revealed its half year results for FY2013.
The group earned revenues of A$16,265,542, which represents a flat trajectory from the same period last year. Net profit after tax was A$414,362, which represented a 57 percent drop on the same period last year. However, the group also noted that the movement in profit would have only been a one percent decline but for a “movement in fair value of financial liabilities [representing] a non-cash and one-off accounting adjustment arising from an acquisition transaction in 2011, being a deferred consideration liability which ultimately was not payable.“
During this period, ILH acquired a 49 percent stake in Melbourne firm Rockwell Bates and introduced consistent national branding (“Rockwell Olivier”) across the group.