Wragge & Co has reported 16% revenue growth for the 2010-11 financial year, reversing a trend of falling financials at the firm over the past two years.

The firm saw turnover for the financial year rise to £112m – up £15.8m on last year's figure of £96.2m.

The all-equity firm has yet to confirm its profits per equity partner (PEP) figure, but managing partner Ian Metcalfe (pictured) said he expected it to at least match the percentage increase in turnover.

He told Legal Week: "We're delighted by these results. We've experienced growth across the board – both in the UK and internationally. All parts of the business have made their contribution. Our real estate practice is up, our corporate, IP, projects and pensions practices have been busy and banking and finance is up 25%."

The results mark a significant improvement on financial performance in 2009-10 and 2008-09, when revenues dropped by 7% and 17% respectively.

Metcalfe commented: "We've felt the impact of the recession was a two-year process. At the end of the last financial year we thought we were beginning to go in the right direction, and indeed we have.

"I don't think we're entirely out of the woods just yet – but our business is strong and we will continue to grow into the next financial year."

Wragges' UK arm brought in approximately £101m, equating to 90% of total revenues, with £8.5m generated in France, £1m in Germany and £500,000 in China.

The firm's highlights over the past year include the launch of an office in Abu Dhabi, and the strengthening of its Paris base – which launched on 1 April 2010 – with the hires of Orrick Rambaud Martel real estate partner Bruno Richard and employment partner Valerie Blandeau from Eversheds.

Four new partners have also joined the UK LLP over the past financial year, including banking partner Jennifer Mackerras from Berwin Leighton Paisner, Barlow Lyde & Gilbert international arbitration head Peter Flint, Howrey intellectual property partner Paul Inman and former Department of Health adviser Robert Breedon.

The firm's total partnership has relatively static at 123 – one more than at the end of the last financial year.