Wragges posts double-digit turnover hike for first half of financial year
Wragge & Co has posted a double-digit increase in revenues for the first half of the financial year. The increase of 15% takes Wragges' fee income for the six-month period ending 31 October to approximately £55m, up from the figure of £47.5m reported last year. Senior partner Quentin Poole said that the increase was due to growth in both the UK and the firm's new Paris offering, which opened earlier this year after the hire of a 10-partner team from Wragges' French referral firm Lefevre Pelletier & Associes.
November 09, 2010 at 06:41 AM
2 minute read
Wragge & Co has posted a double-digit increase in revenues for the first half of the financial year.
The increase of 15% takes Wragges' fee income for the six-month period ending 31 October to approximately £55m, up from the figure of £47.5m reported last year.
Senior partner Quentin Poole said that the increase was due to growth in both the UK and the firm's new Paris offering, which opened earlier this year after the hire of a 10-partner team from Wragges' French referral firm Lefevre Pelletier & Associes.
Poole (pictured) commented: "We have experienced growth in both the UK and Paris. It has been pretty tough but it has got slightly better with an increase in activity levels in both corporate and real estate."
Wragges posted revenues of £96.2m for the 2009-10 financial year, equating to a drop of 7%. The firm also saw profits per equity partner fall to £276,000 from the figure of £292,000 posted in 2008-09.
Allen & Overy yesterday (8 November) became the first City firm to announce its half-year financial results, with the magic circle firm seeing revenues increase by 3% to £526m.
The firm said that more than half of its turnover was generated outside of the UK, with strong performances across the Asia-Pacific region, Moscow and New York.
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