Posted Aug 21, 2008 04:41 pm CDT
The world’s first publicly owned law firm has seen its revenue rise 27 percent since it made a public stock offering a little over a year ago.
Australia-based Slater & Gordon reports that it had revenue of not quite $70 million, in U.S. dollars, and saw a 42 percent increase in net profit over the same period, writes the Lawyer.
The Melbourne personal injury practice went on an expansion drive with the money raised by selling shares in the law firm in an initial public offering in May 2007, snapping up nine other law firms, the legal publication notes.
ABAJournal.com: “1st Birthday of 1st Publicly Owned Law Firm, Slater & Gordon”
ABAJournal.com: “Going Public Pays: 56% Profit Increase Follows Law Firm’s IPO”