BSW Timber's profits jump 280%

BSW Timber has recorded a 280% growth in annual profits to £12.4m (2010: £4.4m) and has announced new investments plans.

Sales in the year ending March 31, 2011, were up 48% to £163m (2010: £110m).

BSW chief executive Tony Hackney said the group had agreed to purchase equipment from Finnforest’s closed Kyroskoski mill, which will be transported to Fort William and BSW’s Latvia mill in the new investment project.

“We have two or three things which have combined to give us a good profitability. We have had some good luck on the exchange rate in our favour and some pretty reasonable log prices,” he said.

He also cited record production levels, increased market share and cost control. Output at BSW mills, not including Howie, increased 20% to 600,000m³ during the period.

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