According to its accounts, the UK LLP shed £6.93m in the 2014/2015 financial year, a loss 75 per cent bigger than the £3.95m loss recorded for the previous year. The firm's operating expenses were also up by 38 per cent, from £75.5m to £104.7m.
Current liabilities have shot up at the firm from £146.5m to £334m as long-term borrowings have also increased dramatically, from just £40.4m in its previous accounts to now £307.8m.
The UK LLP loss comes after a string of UK acquisitions including East Midlands firm Flint Bishop, Cardiff firm Leo Abse & Cohen, and Chester-based Walker Smith Way. Overall, turnover was up for the year by 37 per cent, from £90.4m to £123.9m.
The LLP is part of the larger Slater & Gordon group, which is listed on the Australian Securities Exchange. Earlier this year, the global firm announced that it had made a staggering £493m loss for the first half of the 2015/2016 financial year.
Sources: The Lawyer; Legal Business
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