Slater & Gordon announced earnings guidance for the second half and full year of 2016. For the second half, the company is expecting to report an additional net loss before tax of AUD 59.3 million for second half. For the year, the company has advised its shareholders that it is set to make a loss of over AUD 1 billion over the 2015/16 financial year. The loss was attributed to an impairment of goodwill caused by the firm's acquisition of legal outsourcer Quindell's professional service arm. The total net loss for the year to AUD 1.017 billion. As of 30 June 2016 the firm's net debt stands at AUD 682.3 million up 11.1% on its 2014/15 figure of AUD 614.1 million.