Moelven strengthens profits in first half

The Nordic company produces a wide range of forest products, including sawn timber, engineered wood and plywood.

The second quarter operating profit alone represented an improvement of NOK127m, compared with the same period in 2015.

“This good result reflects a combination of generally positive market conditions and the effects of internal improvements,” said Moelven CEO? Morten Kristiansen.

Operating revenues in Q2 increased by 11.5% to NOK2.93bn, with first half revenues up by 11.9% to NOK5.5bn. Moelven predicted “stable development” in the market, with a positive trend continuing in its project activities in Norway and Sweden for laminated wood and modules as well as in Sweden for interiors.

“For the group as a whole revenues are expected to increase somewhat,” added Mr Kristiansen.

“The group has a good starting point for further improvements. The result for 2016 is expected to be somewhat better than for 2015.”