The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Birmingham-based Wragge & Co has boosted turnover by a middling 11 per cent, hitting £112.6m after 2005-06's £101.3m.
Meanwhile, average profit per equity partner (PEP) has hit £410,000, up by less than 4 per cent from £395,000 last year.
Total profit is up by 9 per cent, from £41m to £45m, while the profit margin has remained stable at a respectable 40 per cent.
Senior partner Quentin Poole said: "We've seen sustained growth over the past 12 months, particularly in London and the South East, as well as from clients based overseas.
"It’s a highly competitive market and we’re focused on what we do best - building relationships with our clients so we can provide commercial legal advice that helps them achieve their business objectives. It’s a simple strategy, but an effective one."
Wragges' 29-partner real estate team, the firm's largest practice group, increased turnover from £28.9m to £34m, generating 30 per cent of overall turnover.
Corporate and banking accounted for £18m, up from £15.6m last year.
Deal highlights for the group included the Peabody Fund's £400m sale of Cutlers Gardens Estate last year (The Lawyer, 20 November 2006).