Birmingham firm Wragge & Co says it has emerged from tough times intact and with rising profits.

The international company has posted a 16% rise in turnover for 2010/11, to £112m.

Core areas, including corporate, banking and finance, intellectual property, real estate, pensions and energy, were all key drivers in the success.

The firm said the profits are testament to a refusal to downsize or scale back despite the turbulent financial situation.

Managing partner Ian Metcalfe said: ‘In terms of economic conditions, the past couple of years have been the toughest I have experienced.

‘Rather than batten down the hatches, we made a number of strategic investments – adding some excellent new people, deepening our sector focus and increasing our international footprint.

'Although conditions continue to be challenging, these decisions are paying off.’

Wragge & Co expanded internationally in the United Arab Emirates and Paris, where the firm now has 12 partners.