TLT reports 8% jump in revenue
Firm's turnover grew to £62.5m in 2014-15, keeping it ahead of competitor Browne Jacobson
June 17, 2015 at 10:21 AM
2 minute read
TLT has reported an 8% increase in revenue for the last financial year, taking its turnover past the £60m mark.
The firm posted revenue of £62.5m in 2014-15, up from £58m the previous year.
TLT said it invested around £5m in infrastructure during the last financial year, including approximately £2m in new IT systems.
The firm's managing partner, David Pester, said the investment in "offices, people and infrastructure" had "cemented the firm's UK footprint" and "deepened its expertise".
He added: "Over the next 12 months we will continue to grow our market share by focusing on maximising the return from the investments we have made."
TLT declined to give figures for profit per equity partner (PEP). Last year it reported PEP of £300,000.
In the last financial year the firm won several new panel appointments, including to the rosters of Sainsbury's and Barclays.
TLT's rise in revenue this year follows three years of expansion, including adding an office in Belfast in 2012 and a Manchester base in 2013. It also merged with Scottish firm Anderson Fyfe in 2012, giving it bases in Edinburgh and Glasgow.
The revenue hike keeps the firm ahead of Browne Jacobson, which reported turnover of £58.9m in 2014-15.
With many firms yet to report their results for the year it is unclear if the revenue figure of £62.5m will be enough to keep TLT in the UK top 50, where it was ranked 49 last year.
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