Aussie firm Slater & Gordon posts turnover rise after acquisitive year

Australia’s Slater & Gordon, the first law firm to float on a stock market, has posted a 21 per cent jump in turnover to Aus$124.7m (£71.8m) for the 2009-10 financial year.

Profit at the firm grew 16 per cent to Aus$19.8m (£11.4m).

The results follow the firm’s Aus$57m acquisition of Queensland personal injury firm Trilby Misso – one of six mergers by the firm this year.

Other acquisitions by Slater & Gordon this year include Melbourne’s Kenyon’s Lawyers; Long Howland and Adams Leyland Lawyers in New South Wales; and McGlades Lawyers and Steward & Noble Lawyers in Victoria.

In May 2007, Slater and Gordon became the first law firm in the world to go public, when it floated on the Australian Stock Exchange with an Aus$35m IPO (21 May 2007).

In the months following the flotation the firm began its acquisition spree, buying up three regional Australian firms in November 2007 (30 November 2007).

In the 2008-09 financial year the firm’s turnover rose 27 per cent while net profit was up 42 per cent (21 August 2008).