Bristol-headquartered national law firm TLT increased annual fee income by 4% to £74.6m for 2016/17, its fifth consecutive year of revenue growth.
The rate of growth has slowed from the previous financial year, when revenues climbed by 15%, partly as a result of the firm securing key mandates on panels including BT, Molson Coors and the Crown Commercial Services (CCS) general legal advisory panel.
Managing partner David Pester, pictured, said revenues were broadly balanced across the firm’s transactional, advisory and disputes services. 
With the legal sector and clients experiencing the impact of increased political and economic volatility, the firm’s focus was on targeted investment and innovation, particularly around how it can deliver legal services in the most effective way for its clients, he said.
“During 2016 /17 we have focused on refining our business with an emphasis on deepening expertise and balancing out the contribution of our practice areas and sectors.,” he said.
Over the past four years TLT has grown income by around 50% as it introduced a rapid expansion programme. In 2013 income was £49m.
In the last financial year, TLT made six lateral partner hires and eight partner promotions. It now has more than 1,000 staff across six UK offices
In April managing partner Mr Pester took up his sixth three-year term as managing partner.
He introduced a new three-year plan for the firm during which it will open its new landmark head office, created by transforming and extending its existing One Redcliff Street base into around 90,000 sq ft of modern, collaborative work space designed to support the firm’s approach to agile working.
