Hello Shareholders;
You should be able sleep well after reading this article published on 13 April 2016. Here is the link.
http://www.legalbusiness.co.uk/inde...iabilities-up-in-rocky-period-for-listed-firm
In case, someone cannot access the article, I have copied and pasted the most critical part of the article below. We will see a significant rerate of SGH SP soon.
“Slater and Gordon (S&G) which
wrote down much of its UK business in February, has posted its LLP accounts for 2015, revealing while turnover was up and liabilities increased significantly at the PI firm.
The accounts show UK fee and service revenue was up 51.2% from £101.7m to £153.8m, while a goodwill impairment of £269m, announced in February, drove the firm's loss for the year down to £251.2m. Before the goodwill impairment and tax, profits were up 14.1% from £20.4m to £23.2m.
According to the accounts, profits for the year had improved before the goodwill impairment, directly attributable to the acquisitions of Walker Smith Way and Leo Abse Cohen, and general increases in fees across both personal injury and general law.”
