Swedish wood producer VIDA’s operating profits declined substantially in 2008 to SKr95.8m (2007: SKr857m – 18 months).
The company’s timber division remained profitable with a result of SKr111.7m (£9.1m), although profits for 2007 (18 months) had been SKr858.8m (£70.6m).
Vida said sawn timber production and delivery hit a record in 2008 at 1.07 million m³. “Under present conditions, full production will occur in all plants during 2009,” it said.
Group turnover amounted to SKr3.7bn (£304.5m).
“VIDA Group is well prepared for a continued recession. Production and deliveries have continued at a high rate during early 2009 and is expected to continue at a high pace. The current financial crisis and recession, however, is difficult to survey.”
