Slater & Gordon claims first-half revenue rise of 46.5 per cent

Listed Australian firm Slater & Gordon has announced a 46.5 per cent increase in its half-year revenue following its takeover of Russell Jones & Walker (RJW) last year.

The firm’s total revenue for the last six months of 2012 was $145.7m, with net profit after tax rising by 61.3 per cent to $19.1m. It is expecting total group revenue for the full year to the end of June 2013 of $290m.

A spokesperson for the firm said its UK expansion was “progressing well” had “delivered in line with expectations” of $34.3m in revenue and net profit after tax of $3.5m for the half-year period.

Basic earnings per share increased by 43 per cent on the previous corresponding period to 11.3 cents, while diluted earnings per share increased by 44.7 per cent to 11 cents.

Directors declared an interim dividend of 2.75 cents per share fully franked, up 10 per cent on the previous corresponding period.

The firm also said the launch of its ‘Slater & Gordon – not a problem’ Australian advertising campaign had delivered a double-digit year-on-year increase in total new client enquiries.

Slater & Gordon acquired London-based RJW in a £53.8m deal last January (30 January 2012). The buyer has been listed in Australia since 2007.

Slater & Gordon managing director Andrew Grech said in a statement: “Our business is in good shape, we have strong prospects for further profitable growth and we have the resources and the people to be able to deliver it.”