It been interesting watching the evolution of Slater & Gordon since it first announced its intention to list on the stock exchange back in 2007. Now it is one of three listed law firms, along with Integrated Legal Holdings and Shine.
At a time when many Australian law firms are struggling to retain let alone increase fees, eight of the ten largest firms by revenue saw fees drop by up to 5% in 2012-20130, Slater & Gordon fees for the 2012-2013 financial year rose by $A80 million to $A298 million, with net profit after tax up by 67%. The firm has also moved quite aggressively into the English marketplace via acquisition.
Slater & Gordon has the advantage that its core consumer legal services marketplace is not subject to the same cyclical fluctuations as the commercial market place. It is also aiming to rebuild its class action pipeline.