TLT

Bristol-headquartered TLT Solicitors had a muted year in 2011–12 with turnover rising by 3 per cent to £44.5m. This represents a slowdown on the previous year’s rate of growth, when turnover rose by 6 per cent, but shows a continued recovery from 2008–09, when turnover fell by 5 per cent.

Since the end of the 2011–12 financial year the firm has moved to position itself as a UK rather than South West firm, with a launch in Northern Ireland and merger in Scotland expected to add around £3m to the firm's 2012–13’s turnover.

The firm took over eight-partner Anderson Fyfe on 1 July, gaining offices in Glasgow and Edinburgh in the process, having launched in Belfast in May. The aim is to tap into a broader base of financial services clients with a view to also selling them litigation services.

While the firm is obviously keen to invest, its profitability remains at the lower end of the regional scale, with a margin of 13 per cent in 2011–12. That puts it on a par with fellow Bristol firm Bond Pearce (13 per cent) but some way behind Osborne Clarke (23 per cent) and Burges Salmon (32 per cent).

Litigation remains a key focus for the firm, with the practice group accounting for 29 per cent (£12.9m) of total revenues in the 2011–12 year.