Global economic recovery helped consulting and engineering firm Jaakko Pöyry Group Oyj’s 2004 earnings in all the areas in which it is involved, except its forest industry business.

The Finnish company, which operates in the forestry, energy and infrastructure and environment sectors, reported profits of €18m and net sales of €473.9m.

Jaakko Pöyry said its results were boosted by increased demand and the strengthening of the group’s market position.

The company’s board has also approved a merger plan which will see Jaakko Pöyry Consulting Oy integrate into Jaakko Pöyry Group Oyj.

The merger will be preceded by the absorption of JP Management Consulting Oy into Jaakko Pöyry Consulting Oy.

Shareholders will have the final decision on the mergers, which are expected to be complete by the end of August.