Global management consulting and engineering company Jaakko Pöyry, which specialises in the forest industries sector, saw its first quarter net sales grow slightly to €105.4m from €102m a year ago.
Pre-tax profits plunged to €5.6m from €16.4m in 2003 but last year’s figure included a one-time €11m gain from the sale of the Finnish-based firm’s headquarters.
Jaakko Pöyry said forest sector investment activity remained slow, while demand for consulting services was slack.
However, the company said its forestry-related business had been strong and order stock stable when “taking into account the market situation”.
Group operating profits are expected to grow slightly during 2004, compared with last year.
