Slater & Gordon's Equity Looks Worthless Following Another Bad Result
We maintain our Extreme fair value uncertainty rating and AUD 0.01 per share fair value estimate for Slater & Gordon following another poor financial result. At AUD 0.16 per share, we continue to believe the shares are materially overvalued and reiterate our intention to cease coverage of the company early next month. The AUD 425 million loss reflected an improvement on the AUD 958 million loss in the previous corresponding period but remains a substantial concern. Both operating and investi...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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