Slaters postpones financial results update
Slater and Gordon has announced its half year financial results update, including gross operating cash flow, will be released in February rather than January.
Slater and Gordon’s shares have continuously slumped since April 2015, prompting the launch of a potential class action suit against the firm by rival Maurice Blackburn and the appointment of McGrathNicol to lead an investigation into the firm’s accounts.
In a statement on 17 December 2015, Slater and Gordon advised that it would provide an update on its gross operating cash flow for the six months ending 31 December 2015 in January.
However, yesterday the firm released a market update stating that it is still working with its auditors and advisers to finalise its half year result.
The release said the firm now intends to report its audited half year financial results, including statutory gross operating cash flow, on 29 February.
On 17 December 2015 Slater and Gordon also announced its intention to review its approach to financial forecasting to be led by new group CFO Bryce Houghton, supported by advisers appointed by the board.
Yesterday Slater and Gordon advised that this process is proceeding as planned, and that it is considering its expectations for operating performance and cash flow for the balance of this financial year.