TLT’s revenue soars by 30% and smashes through its £140m target figure three years early

July 15, 2022

Annual revenue at Bristol-headquartered national law firm TLT has soared by 30% to £144m, beating by three years the £140m target it set itself for 2025.

The firm, which employs round 1,200 people, including 140 partners, said the results reflected an exceptional year in which it launched its strategic vision for 2025 and continued to adapt its working practices to create what it called a fully flexible, progressive and inclusive working environment. 

Its employees can choose to work at a time and place that suits them while supported by a multi-million pound investment by the firm in tech platforms and offices.

TLT said its new flexible approach to working has contributed to it bolstering diversity in senior roles.

Partner promotions for its 2021/2022 financial year took its female partner representation to 31% – up from 24% in October 2019, when it first committed to a longer-term gender diversity target of 33% female partners by 2025.

As a result, its trajectory is ahead of its target and places it in the top 25% of major law firms for gender diversity.

During the year it recruited more than 400 people, including five partners, to develop its service offering. These included Zaqia Rashid, from the government legal department, who is now leading TLT’s 66-person strong public inquiries team.

It also continued to cement its position as a leader in sustainability with the appointment of a dedicated team and the introduction of a sustainability strategy underpinned by carbon emission-cutting targets.

The firm said the strategy had created a pathway for its employees to fully embrace emission-cutting initiatives and contribute to sustainability goals at an individual level.

This commitment was demonstrated, it added, by its move to Glasgow’s most sustainable office development Cadworks and its recognition at the People in Law Awards, where it won in the best environment initiative category.

It also said its growth had been driven by its FutureLaw programme, which harnesses the latest technology to deliver new products and services tailored to the specific needs of each client, helping them to success and develop.

Its strong growth in the future energy sector earned it the Law Firm of the Year title at The Lawyer Awards last November in recognition of its long-term reinvention and early targeting of the green sector, with The Lawyer editor Catrin Griffiths calling the firm “a case study of how to move up the value chain for blue chip companies and government alike”.

TLT also ranked third in Clean Energy Pipeline’s 2021 clean energy legal league table for being one of the most active dealmakers in the future energy sector.

The firm, which also has offices London, Manchester, Glasgow, Edinburgh and Belfast, as well as a specialist ship finance team in Piraeus, Greece, said its vision for 2025 aims to “drive robust financial growth by increasing resources, developing its reach locally, nationally and internationally, and using the latest integrated technology, while delivering a progressive workplace agenda with market leading sustainability”.

TLT managing partner John Wood, pictured, said: “Against the backdrop of the pandemic and more recent economic uncertainty in the UK, TLT has continued to grow at pace, winning new clients, recruiting fantastic talent and leading the way in terms of wellbeing, environmental and social initiatives.”

“These financial results have been achieved thanks to our dedicated strategy, which places the needs of our clients at the forefront.

“We work in step with our clients by listening to them, understanding their businesses and their needs, and providing effective legal solutions to their challenges.

“Given the ever-changing landscape of the environment businesses work in, it’s our role to be one step ahead and to prepare our clients for what comes next.

Hitting £144m turnover three years ahead of schedule is a remarkable achievement and an important milestone on our journey of growth and success, which continues apace.

“I’m really proud of the hard work and dedication of everyone at the firm, which has been instrumental in us achieving these record financial results.”

He said the firm’s financial results clearly showed that the argument for a return to nine to five, five days a week in the office was wrong.

“Flexible working works for both our people and our business,” he added.


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