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Slater & Gordon upbeat about UK expansion

Law firm Slater & Gordon has reported a 61 per cent increase in net profit and is optimistic about the potential size of its expansion into the United Kingdom.

Revenue for the six months ending December was up 46.5 per cent to $145.7 million and post-tax profit was $19.1 million. It expects total group revenue of $290 million this financial year.

The board declared a 2.75 cents fully franked dividend, up from 2.5 cents for the same period last year.

The law firm has been listed on the Australian Securities Exchange since 2007.

Last year it opened up its first offices in the UK after taking over Russell Jones & Walker. It reported revenue of $34.3 million and post-tax profit of $3.5 million from its UK operations during the half year and is optimistic about growth.

"On the back of this performance Slater & Gordon is well placed to expand its operations in the UK in a market that is four to five time that of Australia,'' the company said in a statement to the market this morning.

Full-year earnings are expected to be about 25 per cent of revenue. Slater & Gordon noted its "personal injuries business [is] projected to continue to grow organically at more than five per cent per annum after absorbing negative impact of NSW workers compensation legislative change''.