TLT reports 15% revenue growth

TLT has announced a 15% increase in revenue, reporting turnover of £71.6m for the 2015-16 financial year.

In 2014-15, the firm reported revenue of £62.5m, which was an 8% increase from £58m the previous year.

The firm did not release profit or profit per equity partner numbers for the second consecutive year.

The firm’s latest set of accounts, filed in February, show its profit for distribution fell 8% to £13.8m in 2014-15, down from £15m the year before. In 2013-14, the firm reported a profit per equity partner of £300,000.

This year’s results come at the end of a three-year strategy, during which time the firm’s revenue has grown by 45% and its partner numbers reached 113.

The firm is due to launch a new three-year strategy this summer.

TLT managing partner David Pester said: “Over the last three years we have expanded into disrupted UK markets to win market share and deliver against our strategy through organic growth and tactical team hires. These significant investments to build our UK business underpin our results this year.”

TLT appointed a new senior partner this year, in real estate head Andrew Glynn.

Glynn replaced Robert Bourns in the role after Bourns stepped down in advance of becoming president of the Law Society.

Glynn was replaced as head of real estate by energy and renewables head Maria Connolly.

The firm promoted four new partners in 2016, following on from the six it made up the previous year.