Legal Business Blogs

Financials 2014/15: TLT passes £60m in revenue with 8% growth

Bristol-headquartered TLT has continued a string of strong financial performances in recent years by growing turnover 8% in the 2014/15 financial year and posting revenues of £62.5m.

The increase takes the firm past £60m for the first time and means that revenue has grown by a total of 27% over three years. It follows the launch of a three-year strategy in 2012 which has also seen headcount grow by a third from 669 to 928 while last month the firm made six partner promotions, bringing total partner headcount to over 100.

Some of the revenue was ploughed into investments with the firm saying it spent £2m on IT with around a further £3m on infrastructure and people. Significant client wins for the national firm in the year to 30 April include making it onto both Barclays and Sainsbury’s panels.

Commenting on the results, TLT’s managing partner David Pester (pictured) said: ‘This has been a year of investment and growth. We have invested in our offices, people and infrastructure to cement our UK-footprint and deepen our expertise. Over the next 12 months we will continue to grow our market share by focusing on maximising the return from the investments that we have made.’

Of those financial results already disclosed, Nottingham-based Browne Jacobson posted its second year of double digit increase with a 17% rise in turnover, and a top-line of £58.9m compared with last years £50.2m. Meanwhile national firm Weightmans announced a more modest revenue increase of 2.5% for the 2014/15 financial year to £89.2m from £87m last year, demonstrating a slowing pace of growth.