Swedish forest products group Holmen more than doubled its first quarter profits after tax to SKr370m (2010: SKr178m) but it described the market for sawn timber as “weak”.

In an interim statement, the group result improved primarily because of higher newsprint and paperboard prices, while higher costs for wood had an adverse impact.

Holmen, which has whitewood and redwood sawmilling operations, will publish its first-half report on August 17.