Setra profits slip further

Swedish wood producer Setra Group AB's operating losses deepened in the first quarter to SKr57m.

  The company, which recorded a loss of SKr17m a year ago, said the period had been characterised by continued market pressure on sawn timber, especially redwood.

High stock levels kept prices down, with only marginal rises being recorded at the end of the quarter.

Net sales also reduced slightly to SKr1.23bn from SKr1.27bn a year ago.

  Setra said sales of wood products were weaker than planned due to the late spring and related stock build-up.