Richards Butler has posted a profits increase of around 10% as the firm moves into a new era following its merger this week with US firm Reed Smith.

The firm recorded an increase in average equity partner profits from £430,000 to around £500,000, although the figure includes its Hong Kong office, which is not currently part of the merger deal. The firm’s partner profits figure, excluding Hong Kong, rose from around £375,000 to £390,000. The firm billed £89m in the 2004-05 financial year.