Setra records first-quarter profits

Setra has recorded operating profits of SKr15m for the first quarter – SKr200m better than a year ago.

Profits after tax were SKr5m (2009: 210m loss), while net sales amounted to SKr951m (2009: SKr879m).

“The year started satisfactorily,” said CEO Börje Bengtsson. “The improved result is explained both by internal efficiency gains and by an improved market situation with higher price levels.”

He said volume development during the quarter was lower than expected, mainly because of the snow.

“The market for wood products remains stable and demand and price levels have shown positive development. Order bookings ahead of the spring season and the coming quarter are good,” said Mr Bengtsson.

“Taken overall, our assessments for the future in 2010 are cautiously optimistic.”