Wragge & Co’s average profits per partner have dropped by a disappointing 10% to £245,000 with turnover edging up just less than 2% to £78m.

Although the performance is in line with many of the UK’s leading firms, the results find Wragges slipping behind several of its main rivals, notably DLA and Addleshaw Booth & Co, which have both recorded 16% increases in profits per partner.