Wragge & Co sees turnover increase 5% on strong business growth
BIRMINGHAM law firm Wragge & Co has announced a 5% growth in annual turnover, boosted by a series of major deals and international expansion.
The Colmore Row firm said turnover for the financial year to April 30, 2012 was £118.2m (2011: £113m).
Managing partner Ian Metcalfe said: “Economic headwinds, particularly in the UK and Europe, made life difficult for many businesses. Against this uncertain backdrop we are pleased to have maintained our market share, grown our business and posted a solid set of results.”
Practice areas posting strong results included commercial litigation, pensions, commercial, IT and outsourcing. The firm also saw its sector focus pay dividends with growth coming in real estate, particularly investment, planning and regeneration, and energy.
“Looking to the next 12 months, we will continue to invest in and strengthen our business, building our brand and reputation for understanding how clients work and how we can best advise and support them,” added Mr Metcalfe.
Over the course of the year Wragges made a number of investments, developing its international capability and adding eight new high-profile new partners.
In September, it added a Dubai office to its existing office in Abu Dhabi, both operating through local joint venture Wragge & Co Legal Consultants. The firm said the move highlighted the importance of the Gulf region to its international ambitions.
The Dubai move was followed shortly after by the appointment of former DLA Piper partner Gurmeet Kaur as head of projects in the United Arab Emirates.
He is one of a number of senior international hires. International projects and energy partner Jonathan Brufal joined the firm from Norton Rose, where he had previously worked in London and Abu Dhabi. Hafez construction and international arbitration partner Anthony Wilson became Wragge & Co’s head of international construction disputes.
Other appointments enhance the firm’s capability in professional negligence, planning and regeneration. Jane Howard, head of Reynolds Porter Chamberlain’s Accounting team and Actuarial Liability team, is now part of the firm’s 200-lawyer, full-service dispute resolution practice. SJ Berwin’s Duncan Field and Manches’ Giles Clifford both joined the Planning and Regeneration team.
Wragge & Co also promoted three new partners. IT and outsourcing disputes experts Patrick Arben, pensions specialist Jane Kola and corporate director Richard Goold became partners on May 1, 2012.
Other highlights from the past 12 months include three award wins: Litigation and Regulatory Team of the Year (British Legal Awards); Employment Team of the Year (The Lawyer Awards); and Legal Adviser of the Year (Health Investor Awards). Wragge & Co is also the only law firm to appear in the best workplaces in the UK.
As of May 1, 2012 the firm had 125 partners operating from seven offices: Birmingham, Guangzhou, London, Munich and affiliated offices in Abu Dhabi, Dubai and Paris.
At the end of the 2011/12 financial year, two partners – Dan Hemming and Stephen Sellers – retired from the partnership although Mr Sellers will remain with the firm as a consultant.
The 2011/12 profit margin and profits per partner figures will be confirmed later this year once the firm’s accounts have been audited. It said that in accordance with Limited Liability Partnership regulations, Wragge & Co’s accounts would be filed with the Registrar of Companies in due course.
