This is amazing news. Article clearly suggests that profits of the UK division has also improved if we ignore goodwill impairment component. Now, the company is making profits both in Australia and the UK. You can guess what will happen to SP after the next announcement. Here is the part of the article again for you to enjoy.
"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.”
SGH Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
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