Turnover at one of Northern Ireland's most active corporate law firms rose from £12.5m to £12.8m, while operating profit went from £4.6m to £3.8m

One of Northern Ireland's most active corporate law firms has reported a solid year and increased turnover in its latest financial accounts, alongside operating profits of almost £4million amid a year of investment.

Based on Belfast, Tughans has a history spanning more than 125 years and represents some of Northern Ireland and the world's largest businesses.

Last year the firm maintained its number one position for M&A activity in Northern Ireland, based on research by Experian Market IQ, having held top spot for the previous nine years.

In newly filed accounts for the year to 31 March 2024, turnover at Tughans LLP rose from £12.5m to £12.8m, while operating profit went from £4.6m to £3.8m.

In a review within the accounts, the Tughans members described the performance as solid and highlighted the significant investment in its premises and infrastructure "to secure and future proof the business for both clients and colleagues".

The year began with Tughans's relocation to The Ewart which the firm said "promoted and supported significant positive momentum throughout the year".

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Built by property developer MRP, The Ewart has achieved a BREEAM Excellent rating, making it one of Belfast’s most sustainable new buildings, aligning with Tughans’ own sustainability goals.

Investment was also made in people, technology and process improvement.

During the period, two new members joined the partnership while there was also recruitment in areas including dispute resolution, corporate, real estate, banking and finance and healthcare.

Tughans' Community and Charitable Giving committee led activities to raise more than £10,000 for its charity partner TinyLife.

Looking ahead, Tughans said its pipeline of work remains strong and the investments made are set to bear fruit.

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