World’s first listed firm sees 27 per cent fee rise

World's first listed firm sees 27 per cent fee riseAustralian law firm Slater & Gordon has announced a jump in turnover of 27 per cent to hit a revenue of AUS$79.7m (£37m), just one year after it became the world’s first law firm to float.

The firm recorded a 42 per cent growth in net profit over the same time period, while it also grew away from its personal injury core and into practices including commercial litigation and private client.

Managing director Andrew Grech said: “We are now very much a national practice and we can offer a broader range of legal services to our many thousands of clients.”

He added: “Most importantly though, we have been able to do that without diminishing any of the principles that Slater & Gordon’s reputation has been built on – fighting for the rights of our clients and delivering results.”

Slater floated on the Australian Stock Exchange (ASE) for A$35m (£16.4m) in May 2007 and has expanded aggressively over the last year, snapping up nine firms nationwide with combined annual revenues of AUS$17m (£8m), while also launching four greenfield sites.

Revenue from outside of its home state of Victoria now constitutes 43 per cent – compared with 37 per cent the previous year.