Metsaliitto profits decline

Metsaliitto saw its operating profits plummet in the third quarter to €44m (2010: €170m).

The group, which includes the Finnforest wood products business, recorded operating profits of €229m for the first nine months (2010:€415m).

The wood products division had an operating profit of €12m from sales of €720m. The profit represented 1.6% of sales.

“Pressures on prices of sawn timber, in particular, will have a negative impact on the result outlook of wood products in the last quarter of the year,” it said.

“Adapting sawmill operations in order to safeguard financially sustainable development will be necessary.”