Swedish sawmilling giant Setra Group AB has reported a SKr17m operating loss for the first quarter.
The company, formed last year from the merger of AssiDomän Timber and Mellanskog Industri (Mindab), recorded operating profits of SKr31m in the preceding quarter.
Setra’s first annual profits, reported in March, showed profits of just SKr100,000 for 2003. The figure included a year of earnings from Mindab and AssiDomän profits since the merger last August.
