Reed Smith hikes revenue by 14 per cent

Reed Smith's year-end figures before its merger with Richards Butler have revealed an increase in revenue of 14 per cent to $644m (£331.34m) in 2006. This year the firm is aiming for a 40 per cent growth in revenue to hit $900m (£463.05m). The figure takes into account the mergers with Richards Butler, which is predicted to rake in an extra $120m (£61.74m), and Chicago firm Sachnoff & Weaver, whose 140 lawyers have an estimated revenue of around $80m (£41.16m), which means organic growth is expected to top $60m (£30.87m).