Australia: Publicly Traded Law Firm Slater & Gordon Reports 22% Increase in Net Profit

At least one law firm appears to be weathering the financial crisis Law firm with solid financial results. Melbourne-based Slater & Gordon, the world’s first law firm to be publicly listed, reported a 22.4% increase in net profit for the six months to December 31 to $8.46 million, up from $6.9 million for the previous corresponding period. The firm’s revenue increased 35% to $50.5 million over the period. WA Today reports that the law firm stated that it is eyeing acquisition opportunities and expects its rise in interim earnings to carry through into the second half of fiscal 2009.

As previously discussed here, the firm announced in November 2008 that it expected strong growth in fiscal 2009 as it is a leader in Australia in the plaintiffs’ securities class action area.  It reiterated today there had been a “large increase in shareholder and financial service enquiries from potential clients during the half year, most notably through the Centro class action and Storm Financial and Opes Prime matters,” WA Today reports.

Read the WA Today article