Birmingham giant Wragge & Co has posted a 28.7 per cent increase in average profit per equity partner (PEP) for the 2005/06 year, rising from £307,000 to £395,000. Average PEP growth slowed during the past year compared to the recorded 47.6 per cent hike in 2004/05. But turnover shot up almost 15 per cent, tipping revenues into triple figures for the first time, at £101.3m. Net profit hit £41m, compared with £32.4m for the previous year. The number of partners in the all-equity partnership increased slightly from 105 in 2004/05 to 107.