Slater & Gordon set to return to acquisition trail

SLATER & Gordon, the Australian consumer law firm which has gobbled up several major regional firms including Fentons and Pannone last year, says integration is progressing well and it is looking for further acquisition opportunities.

The Melbourne-based firm, which is going to bring its 700-plus Manchester staff under one roof in Mosley Street from early 2015, also announced strong financial results for the year to the end of June, with both revenue and profits rising more than 40%.

Managing director Andrew Grech said: “I am very  pleased with the group’s financial performance for FY14. We have been able to deliver the results we promised while making great progress in each of the key areas of our growth strategy.

“The businesses acquired in the UK are running smoothly and the integration of all acquired firms is well progressed.  We have been delighted by the response to the launch of the Slater & Gordon brand which  along with Claims Direct is delivering underlying revenue growth of 8% year-on-year.

“We have now established a stable base in the UK and have the people and initiatives in place to make the best of the opportunities which are continuing to open up in that market.”

Total revenues rose 40% to £231m (A$419m), while net profit after tax was up 47% to £33.7m. The company singled out Fentons as a strong performer and said that by March 2015 all its UK firm, including Fentons and Pannone, would be trading under the Slater & Gordon brand.

In a presentation to investors published alongside the results Mr Grech said the group’s strategic focus in ths country is to “fill geographic gaps or under-weight pockets in terms of specialist practice groups”.

Regarding acquisition it said the pipeline was “strong with good prospects of further acquisitions being completed in FY15.”