UK law firm TLT has reported an 11% increase in turnover to £110m in the 2020-21 financial year, and announced plans to exceed £140m by 2025.
The firm's new four year strategy will see it accelerate the development of its UK offer and its wider international network as it continues to build on the growth that has seen a continuing rise in turnover from £42m in 2011, £71.6m 2016 and £98.8m in 2020.
The strategy prioritises transforming the way the firm delivers for clients, through initiatives such as its FutureLaw programme and the further development of legal and near law capabilities. Investment will continue across its seven sectors, which include clean energy; digital; financial services; leisure, food and drink; public sector; real estate; and retail and consumer goods.
John Wood, managing partner at TLT, commented: "We ended the last financial year in a very strong position, having adapted quickly to the challenges of the pandemic – particularly in the first quarter. This has been my first year as managing partner, and I am proud of everyone at the firm’s efforts to make this result possible by supporting and delivering for our clients time and time again throughout the year."
Mr Wood said growth had been consistent across all services, sectors and locations, though each sector had faced very different challenges "triggered by the pandemic and the ongoing disruption that it has accelerated".
He added: "Clients rightly continue to expect more from their lawyers and our new strategy is about meeting that need – whether through our legal advice, transforming how we deliver services or supporting clients with the wider macro issues they face as true business advisers. That includes providing non-legal support on both the sustainability agenda and how best to rise to the challenges all businesses face around EDI and wellness."