Slater & Gordon has announced double digit profit and revenue increases for the last financial year.
The firm released a statement Tuesday (17 August) that said it had recorded an after tax profit of $19.8 million, up 16 per cent on the previous period. The firm also reported that revenue for the 2009/10 financial year stood at $124.7 million, an increase of 21 per cent on the previous period.
"This has been an outstanding year for our business," Slater & Gordon managing director Andrew Grech said. "Strong profit and earnings per share growth, cash flow gains and excellent progress on the delivery of our business strategy culminating in the Trilby Misso acquisition."
The firm listed the Trilby Misso acquisition, and the purchase of Melbourne's Kenyons Lawyers, Long Howland (Gunnedah), McGlades Lawyers (Ballarat), Stewart & Noble Lawyers (Wangaratta) and Adams Leyland Lawyers (Albury and Dubbo) as business highlights.
Slater & Gordon also reported compound annual revenue growth of 26 per cent, fee revenue from the non personal injury practices growing from $13 million in 2007 to $32 million in 2010 and a total dividend for shareholders that was up 18 per cent on the previous year.
The firm also reported that double digit organic growth is expected to continue and that potential acquisitions in the future will be explored.