Bristol-headquartered TLT has continued its strong growth into the first half of this financial year, posting double digit revenue growth of 14%, as Browne Jacobson has praised its London office for 7.5% revenue growth.
Revenue for the first six months of 2015/16 rose from around £31m to £35.3m and the firm said it expected turnover for the full-year to approach £70m.
Over the next three months TLT’s managing partner David Pester (pictured) will lead a series of briefings with partners and associate groups on a new strategy, to be ready for summer 2016. The current three-year strategy which was launched in 2012 has seen headcount grow by a third from 669 to 928. Last month the firm made six partner promotions, bringing total partner headcount to over 100.
The firm will also use an outside consultant and access wider market data in preparation for its new strategy.
The double-digit growth continues a string of strong financial performances in recent years, building on the 8% revenue increase for the full financial year 2014/15. In June the firm posted a revenue figure of £62.5m, which took the firm past £60m for the first time and meant revenue has grown by a total of 27% over three years.
Some of the revenue was ploughed into investments with the firm saying it spent £2m on IT with around a further £3m on infrastructure and people.
Significant client wins for the national firm in the year to 30 April include making it onto both Barclays and Sainsbury’s panels.
Meanwhile LB100 firm Browne Jacobson has praised its London office as it continued its strong financial performance for the first half of 2015/16 with revenue growth of 7.5%.
The first half lift in revenue from £28.6m to £30.8m builds on impressive results for the full year 2014/15 which saw revenues rise 17.2% to £58.9m, while profits per equity partner (PEP) soared by 24% to £412,000.
Chief operating officer Sarah Walker Smith said the firm continued to reap the benefits of investment in people and technology in recent years.
‘All our offices are performing well, particularly in London which is driving growth domestically and internationally in key areas such as the financial services, dispute resolution and international asset recovery arena.’
Managing partner Iain Blatherwick added growth was generated across the business with the corporate, public, health and education teams performing particularly well since the beginning of the year.
He added: ‘The pipeline of high quality work across the board remains strong and gives us a robust platform for the next six months which has traditionally been a stronger period for us.’
In January, Blatherwick was rewarded with a further three year term with the partnership unanimously re-electing him. As well as overseeing the firm’s rapid turnover growth, his tenure has included the opening of new offices in Manchester and Exeter, plus a new London office at 6 Bevis Marks.
Last year’s turnover figure represented the fifth year in a row in of record results for the firm and consolidated the strong growth shown in 2013/14 when the firm generated in revenue £50.2m – up 11.5% from £45m in 2012/13.
kathryn.mccann@legalease.co.uk
