BSW Timber plc has reported pre-tax profits just over 2% lower in the year ending March 31, but with sales ahead nearly 12%.
The Scottish sawmiller recorded earnings for the period of £9.17m compared with £9.4m for the previous 12 months. Turnover rose over £13m to reach £125,348,000.
The company said that it was continuing to invest in “processing efficiency” and new product developments. But it warned of a more “challenging external commercial environment” in the year ahead.
“Demand is anticipated to weaken, with resulting downward pressure on selling prices,” stated the directors’ report. “This, coupled with inflation, particularly energy related, will have a substantial negative impact on profitability.”
