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Slater & Gordon chair to temporarily step down
Listed law firm Slater & Gordon has confirmed its chair will temporarily step down for the top role, effective next month.
Emma Musgrave
Slater & Gordon chair James MacKenzie will temporarily step down from 1 August to have treatment for a medical condition, a statement to the ASX board explained.
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He is expected to resume as chair of the firm within a few months. In the meantime, Elana Rubin will act as chair of Slater & Gordon.
Earlier this year, the listed law firm reported a net profit after tax (NPAT) of $3.1 million and EBITDA before specified items of $18.8 million. The latter is up from 15.3 million on the prior corresponding period.
Meanwhile, revenue increased to $99.3 million, up from $89.2 million on the prior corresponding period. An improved net asset position of $167.8 million was also posted, up from $162.3 million on the six months to 30 June 2020, which it said comes down to “growth in WIP, a reduction in cash and receivables, and lower borrowing and lease liabilities”.
“The investment that we are making in our business, in innovation and in our people is delivering the growth evident in our results,” said Mr MacKenzie in delivering the firm’s presentation to investors in February.
“Pleasingly, despite the challenges of COVID-19, we have continued to progress matters on behalf of the thousands of Australians who need our help to access justice.
“I particularly want to thank our people, whose care, dedication and commitment to our clients and our values are core to our success and to ensuring our clients’ tomorrow starts today.
“We are especially pleased that we were able to achieve the results that we have reported today without JobKeeper support.”
