Bristol firm TLT has posted a 10 per cent increase in revenue for the 2012/13 financial year to nearly £50m, with the news coming alongside the firm’s planned office opening in Manchester this summer.
The firm’s fee income rose from £44.5m in 2011/12 to £49m in 2012/13 following expansion including its merger with Scotland’s Anderson Fyfe and its Belfast launch last year (9 May 2012). Anderson Fyfe contributed £2.4m over ten months.
TLT said in a statement: “We’ve had a very good year in what remains a tough economic climate, delivering a strong performance across the board. We also made a number of key lateral hires over the last 12 months and these were very much strategic appointments giving us greater depth and expertise to meet specific client demand.
“All of these factors have been key to us securing major new clients and panel appointments in a number of the industry sectors we focus on. We’ve a clear strategy for the business and plan to continue to build scale and deepen expertise to help us increase our market share of clients in our chosen industry sectors.”
As well as hiring at least seven lawyers at partner level in the past year, the firm has also won clients including BBC on its property estate in England and Wales and the Government after being selected for its procurement panel (31 January 2012).
Meanwhile, the firm has revealed plans to open an office in Spinningfields in the centre of Manchester this summer, hiring eight individuals including two partners and three assistants.
The firm is anticipating that the base will grow to 20 to 30 people generating turnover of £3-5m in its first 18 months.
TLT managing partner David Pester said: “We already service a national client base from our existing offices in Bristol, London, Glasgow, Edinburgh and Belfast but a number of our major financial services and retail clients who are based in the north of England have said they want us to have a physical presence near to them.
“As one of the largest legal centres outside of London with a significant pool of very high quality talent available, and with strong transport links to our other offices in Bristol, London, Edinburgh, Glasgow and Belfast, a presence in Manchester makes commercial sense and supports TLT’s business strategy.”