Law firm Slater & Gordon has increased its half yearly profit by 21 per cent as it expands into the United Kingdom.
The legal firm made a net profit of $22.9 million in the six months to December 31, while revenue grew by 22 per cent to $178.3 million.
In the six months to December 31 half Slater & Gordon accelerated its expansion into the UK market, making five acquisitions.
Four have been completed, while the fifth is on track to be completed later in February.
"The performance of the UK business demonstrates that our strategic rationale for entering the UK market is sound, and that whilst still early days, is being executed effectively," managing director Andrew Grech said.
"With the completion of the Pannone transaction later this month, we will have secured approximately five per cent market share in the UK claimant personal injury market and have built a strong base for future growth and development."
In the UK, the existing business also performed well and a new direct-to-consumer marketing program launched in September had increased new client inquiries.
Locally, the firm's Australian personal injuries practice delivered seven per cent revenue growth, compared to the previous corresponding period.
"We have been able to maintain a strong overall financial and operational performance in our Australian practice whilst accelerating our expansion into the UK market," Mr Grech said.
Slater & Gordon maintained its previous revenue guidance of $395 million for the full year.
Its shares gained 29 cents, or 6.9 per cent, to $4.50.
