Wragges predicts £127m turnover and £470k PEP

Birmingham-based firm Wragge & Co is predicting a 15 per cent hike in turnover at the half-year level, doubling the rate of growth at this time last year.

The figures are based upon work done rather than bills delivered and manging partner Quentin Poole told The Lawyer that there were good growth levels across the board.

“We weren’t beneficiaries of the corporate and M&A boom to the extent that the magic circle firms were during the last year or so, so we haven’t really been affected by the crunch, at least not yet.”

The healthy results mean that Poole expects the firm to be on target for a full year turnover up 13 per cent to £127m. Average profit per partner is forecast to be up 14 per cent to £470,000.

Eighty per cent of the firm’s workload now comes through London and major clients include Birds Eye, Sanctuary Housing, E.On, Ministry of Defence, British Airways and Close Brothers Private Equity.