Wragges on track to reach budget

Birmingham-based giant Wragge & Co is on budget at the financial mid-year, managing partner Quentin Poole revealed last week.

Poole predicted an increase in turnover of between 7 and 10 per cent when the figures are finalised later this week, meaning the firm is on course to record a turnover of between £110m and £112m at the financial year-end.

Poole continued: “Profit will be up as well, but this is more difficult to calculate as we have to allocate overheads. But total profit has increased 5-10 per cent on the financial year-end.”

Poole attributed the growth to solid performances across the board rather than to any particular practice group, and highlighted Wragges’ focus on winning “bigger deals from bigger organisations”.

He added that the firm is also on track to reach its target of growing the public sector group’s revenue to 25 per cent of total revenue, as first reported by The Lawyer (2 October).

“Five years ago turnover for the group was 3-4 per cent – now it’s 15 per cent and growing,” he said.

Significant public sector client wins in the past two years include the Department of Health, the Ministry of Defence and the Department of Trade & Industry.