We have published our 2024 Annual Report

Today we published our Annual Report for 2024.

Whilst revenue declined compared to 2023, operating profit increased by 225% versus prior year to £8.9m. This was driven by a targeted shift in mix to more complex, high-value legal work, alongside disciplined cost management, office portfolio rationalisation and strong performance from our fee earners across our various practice areas.

Consistent with this growth in profitability, net assets grew by 7% to £101.3m, supported also by ongoing working capital optimisation.

Operationally, 2024 saw completion of key initiatives to bolster long-term financial performance:

• Office portfolio rationalisation delivering cost efficiencies, and enhanced facilities alongside improved sustainability credentials, with the move to The Plaza, Liverpool
• Nearing the completion of exiting Discontinued operations exit programme, with those areas generating a £0.1m profit (versus a £2.2m loss in 2023)
• New supplier/partner agreements strengthening the firm’s working capital position
• Technology consolidation and infrastructure investments reducing legacy spend and improving case-handling efficiency

As part of the above, we also continued to invest in talent, culture and marketing capability. This was recognised by our inclusion in the Financial Times Top 250 Best Employers 2025 – a reflection of our ongoing commitment to colleague development.

With many targeted operational initiatives now implemented, and the mix of work aligned with the intended market position, we will now increasingly focus on driving profitable growth, including from new revenue. Our intentional ability to deliver this is demonstrated by the investment of £30m of new shareholder equity and the recent key appointment of Janine Ferrie as Chief Marketing Officer

Nils Stoesser, CEO, at Slater and Gordon, says: “2024 evidences further validation of our strategy, as we continue to ensure we are well positioned to provide quality legal representation to our clients and deliver access to justice. This is against a backdrop of regulatory changes and well documented challenges within the court system, that make bringing a successful legal claim increasingly difficult. Improving the financial performance despite these challenges is testament to the incredibly hard work, dedication and expertise of our colleagues across the entire organisation in every office, alongside the determination of our clients to ensure we achieve the recompense that they deserve.

“The firm is well placed to continue to deliver for its clients and its stakeholders in 2025 and beyond.”

You can read the full report, here.