Shine Lawyers on trajectory to beat Slater and Gordon Australian revenue

By Peter Frankl. Slater and Gordon is reporting declining revenue at the same time as its arch-rival is reporting significant gains. Shine Lawyers achieved revenue in the December 2017 half-year of $88 million. Of this total, $58 million was categorised as personal injury and $30 million as emerging practice areas.  Slater and Gordon is abandoning general law in favour of focusing on its personal injury business. For the December 2017 half-year, Slater and Gordon reported personal injury revenue of $83 million. This was a 4.5% decline compared to the previous equivalent period and part of a longer term decline, at least since 2014, when […]

$250 million class action filed against Shine Lawyers

Quinn Emanuel Urquhart & Sullivan (QE) along with US litigation funder, Regency Funding (Regency) has filed a shareholder class action against listed law firm Shine Corporate Limited (ASX: SHJ) (Shine) on behalf of aggrieved shareholders. On 29 January 2016, the value of Shine shares plummeted by 73%, following a 10-day suspension from trade for “provisioning and business reviews”. Its updated market guidance saw its forecast FY16 earnings slashed by half, from $54 million to $26 million – wiping out more than $250 million of market capitalisation. article continues below The action, filed in the Supreme Court of Queensland, alleges that […]

Australia’s Most Successful Lawyers Still Not Good Enough for ASX Investors

Shine Lawyers achieved revenue on a cash basis of $162 million (receipts from customers) in 2016/17. This was up by 6% on the previous financial year. Shine Lawyers generated a net positive $19 million cash (receipts from customers less payments to suppliers and employees) in 2016/17. This represented a margin of 12% on cash receipts from customers, an almost identical margin to the previous year. The two major shareholders of Shine Lawyers are Simon Morrison and Stephen Roche. At 30 June 2017, they each held 24.5% of the shares of the company, i.e. 49% in total.  $4.66 million of the $19 million […]