Metsäliitto Group is the latest Nordic timber company to announce a boost in profits, reporting net profits of €89m for the third quarter of 2010, compared to a net loss of €61m a year ago.

The company reported sales of €1.34bn, up from €1.15bn a year ago.

Net profits for the first nine months totalled €191m, compared to a net loss of €306m for the same period of 2009.

The wood products division recorded an operating profit of €21m during the third quarter.

“Our result is proof of the favourable market situation of the third quarter and shows the Group’s competitiveness in the chosen core businesses,” said Kari Jordan, president and CEO, Metsäliitto Group

“In addition to seasonal fluctuation, the recent strong fluctuations of exchange rates create significant challenges for the last quarter.”