Global consulting and engineering company Jaakko Pöyry Group has seen its forest industry profits grow to €14.7m in the first nine months of 2005 despite low investment activity in the sector.
The Finnish-based group said its profits in the sector, up €2.8m on a year ago, were particularly good because of the completion of several projects.
Jaakko Pöyry said demand has focused on rebuild and maintenance investments, while consulting business increased slightly during the nine months.
The group recorded overall pre-tax profits of €26.9m, compared with €21.2m a year earlier. Sales were €378.3m, up from €344.7m.
It said demand for forest industry engineering services is not expected to change for the rest of 2005. But it expects large, new investments to go ahead in South America this year and in 2006.
