| Slater and Gordon withdraws FY16 guidance |
Slater and Gordon has dumped its earnings guidance for this financial year due to its UK business performing below expectations.
The law firm says it is reviewing its approach to financial forecasting and has withdrawn its recently reaffirmed full year guidance for 2016 of revenue in excess of $1.15 billion."There is a significant risk that full year guidance will not be met and accordingly the company withdraws its previous full year guidance pending the outcome of the review," the firm said in a statement.
Slater and Gordon's shares slumped from an all-time high of $8.07 in April to an all-time low of 59.5 cents in November on concerns about its UK business and revisions to its financial reports, but had recovered to $1.07.50 by close of trade on Wednesday.
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