Listed Australian firm Slater & Gordon has indicated it will not seek any further acquisitions in the UK market in 2014.
The firm is expected to complete the takeover of Manchester practice Pannone on Friday and claims it now holds a 5% share of the entire UK market.
In financial results announced to the Australian stock exchange today, Slater & Gordon said its UK operation made almost £40m in revenue last year. The firm expects this to grow to almost £70m in 2014.
But after acquiring the personal injury practice of Taylor Vinters, Goodmans, Pickerings and Fentons in the past year, the firm is likely to halt its expansion for now.
Group managing director Andrew Grech said: 'By compressing our acquisition programme in the UK into a shorter time frame we have given ourselves the opportunity to move more quickly to improving operational performance as we have been doing in Australia in the past 12 months.
‘For now we are very focused on integration. We have a strong management team in place tasked with consolidating our operations over the next 12 months.’
The firm, which first entered the UK market with the acquisition of Russell Jones Walker in 2012, said it expects Pannone to generate £34.5m turnover in 2014, Fentons to make £27.7m and Taylor Vinters, Goodmans and Pickerings collectively £10.3m.
Half-yearly profits (to the end of December) rose 21% to £12.6m, with revenue up 22% to £98m.
Following the announcement its share price rose by 6.9% to $Aus4.5.