Slater & Gordon has enjoyed a rise in half-year profits to $23 million for the six months to 31 December 2021, lifting its profits by 21 per cent following the Australian-based law firm’s expansion in the UK.
The firm’s expansion included the purchase of Pannone Solicitors, completed this month, and four other acquisitions, which saw total revenues rise to $178 million.
Andrew Grech, Slaters’ managing director, said that once the Pannone acquisition would see Slaters achieve around five per cent market share in the UK claimant personal injury market.
“The performance of the UK business demonstrates that our strategic rationale for entering the UK market is sound, and that whilst still early days, is being executed effectively,” he added.
In Australia, Slaters’ personal injuries practice accounted for seven per cent of the revenue growth on the previous half of the year, while the personal legal services arm, including family law and conveyancing, are “making solid progress”, the firm said in a statement.
Slaters took over Perth firm Gibson & Gibson in August and Sydney firm Keddies in 2011. A number of Keddies lawyers were involved in an overcharging scandal in the months leading up to the acquisition.