Finnforest recorded a pre-tax loss of €10m during the first nine months of 2005, parent company Metsäliitto has announced.
The result, compared to a loss of €3m a year ago, was exacerbated by knock-on effects from the dispute in Finland’s paper industry earlier this year, plus poor profitability in sawmilling. Sales were up to €1.49bn, from €1.46bn.
The labour dispute meant Finnforest’s sawmills only reached half of their projected output but plywood production was kept at normal levels.
Demand and prices for both birch and plywoods were better than a year ago, while the Kerto LVL business enjoyed “good results, healthy order stocks and a strong market position”.
Metsäliitto’s group losses deepened to €118m from €31m a year ago.
