TLT continues run of revenue growth with 4% rise
Firm posts modest turnover rise after 15% boost last year
June 19, 2017 at 08:26 AM
2 minute read
TLT has announced a 4% rise in turnover to £74.6m for the 2016-17 financial year.
The results come after the firm posted a 15% revenue increase for 2015-16 to £71.6m, placing it 49th in Legal Week's UK top 50.
The firm broke into the UK top 50 in 2014, and has now increased revenues by around 50% since 2013.
In a statement, the firm said revenues were balanced across its transactional, advisory and disputes services. However, managing partner David Pester (pictured) cited "increased political and economic volatility" as putting both the legal sector and clients under pressure. He said that as a result, TLT's focus was on "targeted investment and innovation".
Pester added: "During 2016-17, we have focused on refining our business with an emphasis on deepening expertise and balancing out the contribution of our practice areas and sectors."
During the financial year, TLT made six lateral partner hires and eight partner promotions, and also secured a number of new panel appointments, including for BT, the Crown Commercial Services General legal advisory services panel (tier one) and US-headquartered brewer Molson Coors.
Pester, who was re-elected in 2015 to serve a sixth three-year term, has held the managing partner role since 2002.
TLT has six offices across England, Scotland and Belfast, as well as a base in Piraeus, and employs more than 1,000 people. Most recently, the firm launched an office in Manchester in 2013 and opened in Glasgow and Edinburgh through a merger with Anderson Fyfe in 2012.
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