French tropical timber producer Rougier says it has turned a corner, with a brighter fourth quarter pointing towards a better performance in 2010.
The company, which has operations in Africa, reported €124.9m revenue for 2009, a 21.2% reduction on a year ago. But a 6.5% rise in the fourth quarter to €33.4m (compared to the same period in 2008) represented the strongest quarter of the year.
Rougier’s main Africa and International Trade division recorded full-year revenues of €98.7m, down 21% on a year ago, largely attributable to the temporary closure of two industrial and timber sites until October 2009. Fourth quarter business rose 4.6% due to action on costs and strengthening of sales prices.
Sawn timber sales decreased 36.2%, while FSC-certified plywood sales showed a good level of resilience.
The France import-distribution service recorded €35.2m full-year revenue, down 21.3%.
Rougier said the improved performance at the end of 2009, coupled with cost savings, helped limit operational losses over the second half. But it will not release any figures on its losses until the AGM on March 31.
