Slater & Gordon appears to be handling the economic turbulence well, yesterday reporting profits of $8.5 million for the first half of FY 2009, up 22.4 per cent on the first half of FY 2008.
Revenue, at $50.5 million, was also up 35 per cent on the previous corresponding period, and the firm has declared a one cent dividend.
In a presentation Wednesday, the firm's managing director, Andrew Grech, reported that the firm is continuing to expand its presence outside its traditional Victorian base, with 44 per cent of all fee revenue now coming from outside that state (compared with 37 per cent in June 2007).
The firm has made a spate of acquisitions in recent years, as well as opening a number of new offices in an effort to fast track growth - the most recent being its new Hobart office - and Grech said that a priority for the first half of 2009 will be consolidating those acquisitions.
The firm is also continuing to diversify its practice outside of personal injuries work, with 25 per cent of revenue now coming from outside that core practice area.
- By Zoe Lyon