Wragge & Co stashes away £14m despite profit slump

Griffiths, Catrin
March 2005
Lawyer;3/7/2005, Vol. 19 Issue 9, p3
Trade Publication
This article focuses on Wragge & Co. which had 13.9 million pounds of cash at bank last year despite its worst profit performance for a decade, according to its first limited- liability partnership (LLP) statement. Wragges' LLP accounts also show that the firm is one of the most heavily capitalized in The Lawyer UK 100 Annual Report, with 17.8 million pounds partners' capital on a turnover of 80 million pounds. This represents a slight increase in capital retained in the firm, up from 16.2 million pounds the previous year. The national firm is predicting a 2004-05 turnover rise of 10 per cent with a profit increase of 30 per cent.


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