Forestry technology manufacturer Kesla saw growth in sales and operating profits in 2011 but market uncertainty weakened the group’s performance during the final quarter.
Finland-based Kesla said its annual group sales were up 30.3% to €43.9m, with operating profits improving to €2.8m (2010: €2.1m). Fast-growing use of renewable energy fuelled demand.
During the fourth quarter, net sales rose 3.9% to €11.6m, with operating profits declining to €261,000 from €1.2m a year ago. Forest machine external sales fell by 0.6%, while engineering systems grew by 28.2%.
“Europe’s financial crisis, the uncertain economic outlook, as well as the order backlog, means expectations for 2012 are weaker than 2011,” said Kesla.
Kesla manufactures timber loading cranes, harvesters, forwarders, trailers, harvester heads, chippers and stroke de-limbers. It has three factories and exports to more than 30 countries.
