Swedish sawmiller VIDA doubled its annual operating profits to SKr225.7m in 2010 (2009: SKr112.1m).
The timber division recorded operating profits of SKr229m (2009: SKr140m) and production reached 1.087 million m³ (2009: 1.051 million m³).
Vida said all its plants showed positive results, though performance in the fourth quarter was significantly worse than the previous three.
“The continued weak new construction market in Europe and North America, the unrest in North Africa, combined with a strong Swedish krona and historically high prices in southern Sweden mean profitability is estimated to be worse in 2011 than in 2010,” Vida said.
However, Vida said it was well-prepared and had a good procurement and distribution network which would further strengthen its position as a leading player in the forestry industry.
Group turnover rose to SKr3.8bn (2009: SKr3.6bn).
