Setra records fourth quarter profit

A return to profit in the fourth quarter of 2009 for Swedish sawmiller Setra gave the group a “satisfactory” annual performance despite a SKr327m loss (2008: SKr-377m) for the year.

In a statement released today, Setra president and CEO Börje Bengtsson said the posting of a SKr40m operating profit in the fourth quarter (2008: SKr203m) displayed a gratifying earnings trend caused by favourable demand and price developments and cost-cutting.

“The year 2010 started well and the order situation is good,” he added. “Taken overall, our future assessments for 2010 are cautiously optimistic.”

Setra’s operating losses in 2009 included SKr100m closure costs for the Färila and Lövholmen sawmills.

Total net sales for 2009 were SKr4.1bn (2008: SKr4.8bn), with fourth quarter sales at SKr1.04bn (2008: SKr994m).

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