Swedish forest products company Holmen AB recorded annual operating profits of SKr2.8bn, up from SKr2.3bn a year earlier.
Operating profits for Holmen Timber improved to SKr146m from SKr80m in 2006 due to higher prices and higher deliveries. Production reached 262,000m³.
Holmen AB president and CEO Magnus Hall said prospects for the rest of 2008 pointed towards lower prices, at least during the first half of the year.
He said the company would feel the effect of the high costs of wood raw material.
Holmen Timber’s customers are mainly in the joinery industry and include manufacturers of windows, solid wood flooring and laminated boards, as well as planing mills. The UK and Scandinavia make up 70% of the division’s business.
