Operating profits at Swedish state forester Sveaskog grew by 24% to SKr924m during 2009 (2008: SKr744m).
Sveaskog said this was achieved despite a 17% net sales decrease equivalent to SKr1.2bn.
A sharp reduction in operating expenses through an efficiency improvement programme was the principal reason for the improved earnings. Operating profits were also positively impacted by a changed product mix with an increased proportion of sawlogs.
Annual sales amounted to SKr6bn (2008: SKr7.2bn), with a higher proportion of sawlogs sales from its own forests making positive contributions. Good demand for sawlogs was reported in the fourth quarter.
