Hannes Snellman reports double-digit profit recovery

Finland’s second largest firm Hannes Snellman has recorded an astonishing 48 per cent rise in profits, smoothing the way for a new managing partner in 2005.

The firm made a post-tax profit of €6.75m during the last financial year. The previous year profit had slumped 10 per cent to €4.56m.

Turnover rose 13.6 per cent to €29.3m during managing partner Antti Heikinheimo’s final year in charge.

Heikinheimo will now pass the reigns over to star corporate partner Johan Aalto, who is co-head of M&A and will become managing partner at the beginning of 2005. Heikinheimo will return to the firm’s dispute resolution practice after four years at the helm.