Slater and Gordon UK has returned to profitability following a period of stabilisation, restructuring and strategic investment.
The business generated revenues of £222.7 million and achieved adjusted earnings before interest, taxes, depreciation and amortisation of £1 million in 2018, its first year of independence following its separation from its former Australian parent company.
David Whitmore, who took over as chief executive in January 2018, has led a new leadership team that has invested in the digitalisation of its legal services and shifted the business’ focus to delivering excellence in customer care.
As part of the new leadership team, Slater and Gordon hired Martyn Beauchamp for the newly created role of chief customer officer.
Yvonne Ferguson was also appointed to the role of chief technology and transformation officer, Alison Wilford joined as chief financial officer, and Angus Eaton became chief risk officer.
Slater and Gordon also developed a people and culture function within the group, led by newly appointed chief people officer Alicia Alinia.
Other highlights for Slater and Gordon include a 100% retention of contracts with existing partners, including RAC and Brightside, as well as an investment of £6.7 million in technology initiatives, the first phase of a three-year multi-million programme to enable the business to digitalise legal services and integrate onto a single case management platform.
Reflecting on the financial results and progress achieved, Whitmore said: “2018 was a significant year for Slater and Gordon, as we returned to profit. We’ve achieved a huge amount and our success reflects the underlying strength of our proposition.”
“In the last 18 months we have strengthened the leadership team, bringing in a wealth of experience and skills from inside and outside of the legal sector. This mix of talents and expertise will enable our business to continue growing to meet the demands of our customers, partners and colleagues. It is an exciting time to be part of the business and we look forward to continuing to transform the way consumer legal services are delivered in this country.”