Half-year turnover up 5 per cent at Wragges

Wragge & Co has posted a 5 per cent rise in turnover for the first half of the 2011-12 financial year.

Turnover at the firm was £58m for the first six months of the financial year, up from around £55m at the same point in 2010-11. That figure represented a rise of 15 per cent on the previous year.

“We’re pleased with our results but are by no means complacent about the full-year,” said managing partner Ian Metcalfe. “Things have slowed down noticeably in the course of the last month and, talking to my peer group of managing partners, many firms have experienced the same thing. We have a reasonably strong pipeline going into Christmas, but things are moving slower and there’s a lot more nervousness because of what’s happening in Greece.

“While we have an underlying core business that isn’t growing as much as we’d like we have a fantastic health practice, also energy is very strong and we’re doing a lot of project finance work in Africa. The financial services practice is strong, too, particularly in relation to Solvency II work.”

At the end of the 2010-11 financial year Wragges posted a 16 per cent rise in turnover, up from £96.2m to £112m.