Slater & Gordon has released its half year (6 months to 31 Dec 2021) financial reports to the ASX:

Whereas Shine Lawyers’ experienced a decline in personal injury work in the half year, there was growth at Slater & Gordon. Personal injury enquiries increased by 16% compared to previous corresponding period (PCP). There was 6% matter growth.

The growth in the value of work in progress (WIP) was driven by a combination of increasing enquiry levels, active file growth, improved case mix, file progression and a slow-down in some parts of the legal process caused by COVI D-19 restrictions. 

Slater & Gordon delivered approx. $360m in compensation to everyday Australians.

According to the company, the 6 months financial results demonstrate the Company’s continued growth, reporting a net profit after tax of $3.1m. This compares to a net loss after tax for half year ended 31 December 2019 (“PCP”) of ($0.6m).

Slater & Gordon also reported EBITDA before specified items’ of $18.8m, compared to $15.3m in the PCP. Revenue increased to $99.3m from $89.2m in the PCP.

The Company’s Financial Report for the half-year to 31 December 2020 also shows:

  • Net profit after tax from continuing operations of $2.8m, compared to a net loss after tax from continuing operations of ($0.9m) in the PCP.
  • Operating cashflow generated from continuing operations of $6.1m (PCP $7.0m), largely due to higher payments to suppliers and employees offset by higher receipts from customers and lower borrowing costs.
  • An improved net asset position of $167.8m (30 June 2020: $162.3m) largely due to growth in WIP, a reduction in cash and receivables and lower borrowing and lease liabilities.