Global management consulting and engineering company Jaakko Pöyry, which specialises in the forest industries sector, has seen its interim profits dip to €19.1m from €27.8m a year ago.
The Finland-based company recorded sales of €344.7m during the January 1-September 30 period, up from €302m in 2003.
Jaakko Pöyry, whose profit included an €11m gain from the sale of its headquarters property, said its forest industry division maintained good earnings despite continued slackness in the market.
It said capacity utilisation in the forest industry is improving but investment activity remains low. New investments and demand for consulting services are not expected to increase significantly during 2004, with business focusing on operations/profitability improvement.
Economic recovery in East Asia, China and to some degree in Europe, together with an expanding EU, is creating growth opportunities in energy-related services, such as renewable energy.
