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Slater & Gordon (SGH): Consolidating in the UK

Livewire Exclusive

Livewire Markets

Slater & Gordon (SGH): Consolidating in the UK. Matt Haupt from Wilson Asset Management outlines some of the key points in their investment thesis for Slater & Gordon which is one of the biggest positions in their portfolio. The Company is taking advantages of changes to litigation legislation in the UK and is likely to be a consolidator in the space. Currently SGH has about 5%-7% of the personal injury market in the UK and Haupt says this could get as high as 15% over the next 2-3 years. Offshore earnings account for 50% of Company revenues which is likely to provide a tailwind given the potential for the Aussie dollar to fall against the pound. On current DCF valuations Haupt says it is quite easy to get a valuation for SGH above $7 with the current price at $5.91. Watch the full video here:


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