Slater & Gordon is set to break into the top 50 UK firms after unveiling domestic revenue of A$182.5m (£100m).

The results represent the culmination of a year in which the expansionist firm acquired a number of acquisitions of UK rivals.

Revenue, which grew 159% following a series of mergers, was far ahead of Slater & Gordon's target of A$80m (£44m) set at the same time last year, after UK revenue rose 10% year-on-year to A$70.5m (£38.9m) during 2012-13.

The 2012-13 financial results were the first from the native Australian outfit, thought to be the first law firm to be listed on the stock exchange – since it entered the UK market with the acquisition of Russell Jones & Walker in 2012.

Global revenue for 2013-14 increased by 40.4% to A$418.5m (£231m), according to preliminary annual results issued to the Australian Stock Exchange. Net profit after tax increased to A$61.1m (£33.7m).

The firm, which operates to a 30 June financial year-end, has now set a group revenue target of A$500m (£276m) for the next financial year, with the UK business expected to contribute A$230m (£127m).

Slater & Gordon group managing director Andrew Grech (pictured) said: "We have been able to deliver the results we promised while making great progress in each of the key areas of our growth strategy.

"The businesses acquired in the UK are running smoothly and the integration of all acquired firms is well progressed. We have been delighted by the response to the launch of the Slater & Gordon brand which along with Claims Direct is delivering underlying revenue growth of 8% year on year."

The firm has also outlined plans to acquire Victoria-based personal injury outfit Nowicki Carbone and Queensland consumer law practice Schultz Toomey O'Brien, which have a combined estimated annual fee income of A$39m (£21.5m).

Slater & Gordon made numerous takeovers during the past year in a bid to expand its footprint in the UK market. The acquisitions included Pannone's consumer services and personal injury business, Taylor Vinter's personal injury arm, Liverpool firm Goodmans Law, Fentons Solicitors and John Pickering & Partners.

Other firms expected to make a debut among the UK's top 50 law firms by revenue for 2013-14 include Bond Dickinson, which posted revenue of £99.1m on the back of last year's combination between Bond Pearce and Dickinson Dees.