Wragge Lawrence Graham & Co has announced the results of its legacy firms Wragge & Co and Lawrence Graham for the financial year to 30 April 2014.
The combination has created a £172m turnover business delivering profit of £58.6m at a margin of 34 per cent. The turnover figure comprises £121.2m from legacy Wragge & Co and £50.8m from legacy Lawrence Graham, with profit of £41.5m and £17.2m respectively.
Real estate accounts for more than £56m, or a third of the merged firm’s total turnover. The practice put in a strong performance, with turnover increasing by 15 per cent. This was driven by growth across the full range of real-estate disciplines and headline instructions including the redevelopment of Battersea Power Station and the development of a new market town in the south west of England.
In dispute resolution, the merger united Wragge & Co’s strengths in intellectual property, construction and commercial litigation with Lawrence Graham’s focus on international disputes, particularly in the area of fraud/asset tracing, contentious trusts and insurance/reinsurance. At £40m, dispute resolution generates a quarter of the merged firm’s turnover. The dispute resolution practice delivered a seven per cent increase in turnover.
In corporate, positive performances in equity capital markets, investment funds, mergers and acquisitions and private equity delivered a turnover increase of 10 per cent. Highlights include new instructions from BlackRock and Cantor Fitzgerald, along with the £233m sale of Prime Public Partnerships (Holdings).
Wragge Lawrence Graham & Co is the number-one AIM firm by market capitalisation and a top-rated firm for investment funds work.