Update: Starting the fight back
Slater & Gordon (SGH) proved it has been listening to investor concerns, has improved its disclosure and promised more in the future. FY15 results were somewhat distorted by accounting changes, but show good progression on a number of fronts. The management team continues to reiterate its cash and EBITDA guidance from the Quindell PSD acquisition. Our analysis indicates the material revenue acceleration and cost control to achieve management guidance is stretching, but not unachievable.Slater & Gordon's principal activities are the operation of legal practices in Australia and the U.K. Co.'s services include: Personal Injury Law, which provides legal services in a range of personal injury areas including motor vehicle accidents, workers' compensation and civil liability law; General Law, which is made up of Personal Legal Services and Business and Specialised Litigation Services; Claims, which deals with the origination, assessment and resolution of personal injury claims with a focus on road traffic accidents; and Motor and Health Services, which provides motor vehicle accident management support and rehabilitation and medical reporting management solutions.
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