Tropical timber products producer Rougier has posted first half net profits of €1.5m, “confirming” the recovery in profitability which began in 2010.
The group’s sales grew 9.3% to €74m (2010: €67.7m), with the French import and distribution division seeing sales increase 8% to €23.1m, helped by expanded product lines.
The Africa division recorded a 10.8% boost in sales to €55.6m, in part due to modernisation in the processing sector.
Rougier’s Gabon business was negatively impacted by various factors including port logistics.
Rougier said it was optimistic about prospects to record an improvement in full year earnings.
“These prospects are a continuation of the strategic model of Rougier, based on industrialisation, increasing production, certification of good forest management, diversification of product offering and geographical markets, supported in 2011 by a large capital expenditure programme,” it said.
In the medium term, Rougier is looking to establish plantations, with a first step taken in July in an agreement with the Gabonese state to set up the Lignafria plantation business with FRM.
Rougier’s investment includes creating a second processing unit in Cameroon and establishing a mill in Gabon dedicated to emerging markets.
