Wragge & Co LLP's turnover for the 2006/07 financial year is £112.6 million, an increase of 11 per cent from last year's £101.3 million. With a profit margin of 40 per cent, total profit is in the region of £45 million.

Senior partner Quentin Poole says: "We've seen sustained growth over the past 12 months, particularly in London and the South East, as well as from clients based overseas. It is a highly competitive market and we are focused on what we do best – building relationships with our clients so we can provide creative, commercial legal advice that helps them achieve their business objectives. It is a simple strategy, but an effective one."

With 21 partners providing debt and equity advice on deals worth in excess of £5 billion, Wragge & Co's corporate and banking dealmakers increased turnover by 16 per cent. Headline instructions included the £336 million sale of Rosemound, a trio of cross-border deals worth $1.03 billion for Parkridge and a $594 million acquisition for AS Tallink, putting M&A at the forefront of this growth. M&A instructions saw the Antitrust Team scoop a high-profile Competition Commission mandate, acting on Weinerberger's acquisition of Baggeridge Brick plc.

Private equity also capitalised on a buoyant market to enhance its reputation as an established name among the City's mid-market advisers. Close Brothers Private Equity's £93 million MBO of Rosemont Pharmaceuticals was its signature transaction this year. On the banking side, deals for HSBC, Lloyds TSB and GE Commercial Finance showcased the firm's specialist finance credentials.

Real estate continued to push forward, increasing fee income by 18 per cent and generating 30 per cent of overall turnover. With 29 partners providing full-service real estate advice on matters ranging from asset management to regeneration, the firm has a commanding reputation for real estate work across the UK. Notable growth areas were finance, tax, commercial development, investment and residential development.

Clients choosing the 180-lawyer real estate practice included John Lewis Partnership, who appointed Wragge & Co's real estate dispute resolution experts, and Taylor Woodrow. Other highlights included one of the City's largest real estate deals – The Peabody Fund's sale of Cutlers Gardens Estate for over £400 million – and the appointments of commercial development partner Mike Trainer and planning director Karen Howard.

In IP, contentious work for big-name brands including Dyson helped the team win Managing Intellectual Property's UK law firm of the year award. Litigation specialists throughout the firm posted robust performances, with IT litigation up 36 per cent, safety, health and environment litigation growing by 26 per cent and a 19 per cent increase in construction dispute resolution.

The Energy & Regulated Industries Team proved the biggest-growing sector-focused practice, increasing its turnover by 40 per cent. Headline instructions included advising E.ON UK on its deal to create one of the world's largest combined heat and power stations, plus work for BP plc and the Northern Ireland Authority for Utility Regulation. Technology, retail, construction and local government were also high-performing sectors.

Employment and pensions scored several client wins, attracting first-time instructions from the trustees of AMEC's £1 billion plus pension schemes and Britannia Building Society Pension Scheme's trustees.

The firm's new clients this year included major corporates Birds Eye, Kaupthing Singer & Friedlander and Praemium. Strategic moves this year saw Wragge & Co unveil new offices in China and Hong Kong, giving it a base from which to capitalise on opportunities arising in the Far East.

In addition to continued financial growth, international expansion and winning new clients, Wragge & Co enhanced its reputation as a great place to work. It is the only law firm to feature in the Financial Times 50 Best Workplaces in the UK. Having appeared in the FT list more than five consecutive times, Wragge & Co is a 'best workplaces laureate'. It is also the only law firm to appear in the Sunday Times 100 Best Companies to Work For every year since the survey began in 2001.

As of 1 May 2007, Wragge & Co has 109 partners.

In accordance with Limited Liability Partnership regulations, Wragge & Co's accounts will be filed with the Registrar of Companies in due course.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785, Amie Ryalls on +44 (0)121 685 2708 or Rebecca Mee on +44 (0)121 685 3819

This press release may contain information of general interest about current legal issues, but does not give legal advice.