Australian firm Slater & Gordon to separate from UK arm
Slater & Gordon has announced plans to split off from its UK business. The announcement follows a decline in profits, which fell by 46.3 per cent for the 2016/17 financial year. Turnover decreased by 32.7 per cent overall, while the UK arm saw turnover drop by 31.4 per cent.
The firm attributed its declining financial results to a ‘business rationalisation programme' implemented by the parent firm.
The firm opened its UK base in 2012 through the acquisition of legacy Russell Jones & Walker. According to an announcement on the Australian Stock Exchange, the firm believes the planned split will allow both arms of the firm to succeed.