Slater and Gordon Sees 12% Growth in Personal Injury Revenue

Today we published our Annual Report for 2023.

We experienced 12% growth in underlying personal injury revenues, showing significant growth in our key business operations.

In 2023, from continuing operations, revenue was £77.7m against £150.5m from the previous year. Operating Profit from continuing operations was £2.7m, compared with £31.7m in 2022.

This reduction in figures is primarily attributed to a significant case settlement in 2022 with Volkswagen regarding diesel emissions.

The 2023 results were underpinned by multiple significant developments:

• Significant strides made in consolidating services to focus on higher-value, more complex cases on behalf of clients;
• An agreement entered into with Carpenters Limited (Carpenters) in June 2023 to transfer a significant component of Slater and Gordon’s Small Claims Track (“SCT”) cases;
• Progress on its office portfolio rationalisation plan, with the move into a new modern Manchester office, located in central Manchester, and additional office locations opened in Cheshire and on the Wirral;
• Substantial progress in running off discontinued operations, with the loss attributed to discontinued operations falling from £6.8m (2022) to £2.2m (2023);
• A strategic partnership with a global technology services leader focusing on improving the customer onboarding journey;
• The group further enhanced its longer-term funding by entering into a five-year, £33m committed facility with Harbour, one of the leading providers of financing to the legal sector.

Slater and Gordon CEO, Nils Stoesser, said: “2023 was a successful year for the group mostly attributable to the exceptional expert talent we have working at Slater and Gordon. Alongside the significant case successes achieved on behalf of our clients, we made important strides in strengthening our financial position and investing in our infrastructure.

“This means that we are better placed than ever to fight for our clients, provide access to justice, and deliver expert advice and support for those who need it most.”

The full report can be seen, here.