‘Momentous couple of years’ at Gowling WLG

BIRMINGHAM law firm Gowling WLG has posted increases in revenue and profit following what has been described as a “momentous couple of years”.

The practice, born out of historic Birmingham firm Wragge & Co, said revenue in the year to May 2016 was £184.7 million and pre-tax profit was £57.2 million, increases of two per cent and 1.4 per cent respective- ly.

Profit per partner increased 5.2 per cent to £364,000.

Gowling WLG was formed in February through the combination of Gowlings and Wragge Lawrence Graham & Co, itself the result of a merger in 2014 between Wragge & Co and London-based Lawrence Graham.

David Fennell, chief executive of Gowling WLG (UK), said: “This has been a momentous couple of years.

“Our firm has been transformed through the combination with Gowlings and the launch of a new international brand. by

“This bigger platform, with added strength and experience across key sectors, has helped us to win important global mandates and positioned us alongside more established global players.

“We are encouraged by the variety and quality of new business opportunities, not just in Europe, but in Canada and the US and across our offices around the world.”

Andrew Witts, chairman of Gowling WLG (UK), added: “Although we have entered a more uncertain period following the EU referendum result, we are better placed having launched Gowling WLG new Brexit Unit.

“The relative weakness of the pound means that UK assets offer better value and we are investing in and leveraging our US sales team to deliver lucrative business leads alongside our Canadian colleagues.”

Highlights in practice performance included construction and engineering, which recorded a 23 per cent increase in revenue, and a 17 per cent climb in intellectual property.

Real estate had another good year, Gowling WLG said, with revenue increasing to £62 million. and our