Profits at national firm TLT soared by 32% to £7.4m in 2012 – on turnover up 11.6% to £49.6m, according to financial results released today.

Profit per equity partner rose 7.5% to £274,00.

Last year TLT merged with Scottish firm Anderson Fyfe, a move which it forecast would increase turnover to £48m.

David Pester, managing partner, said the results were due to a number of strategic investments.

'We made some key investments last year, merging with Anderson Fyfe and opening a practice in Belfast giving us the capability to deliver legal services across all three UK legal jurisdictions, and we're now seeing the return on those investments,' he said.

National firm Gateley also reported strong profits, rising 22% to £16.5m, on turnover of £66m. PEP rose 22% to £262,000.

Last year PEP at Gately dropped 11% to £214,000, on turnover up 8% to £61.5m.

PEP at Shoosmiths fell by 8.5% to £269,000, on turnover up 3% to £86.9m. PEP fell 8.5% to £269,000.