Wragge & Co has unveiled a 44% boost to its average profits per equity partner (PEP) as provisional financial results for 2004-05 show the Birmingham giant rebounding after a difficult three-year period.

Partner profits at the 105 all-equity partner firm soared to £300,000 for the first time for the year just ended, up from £208,000 during 2003-04, while total profits hit £32m, marking a significant improvement after a 17.5% fall in partner profits last year.