Metsäliitto has released an upbeat trading statement, saying its first quarter result will be “clearly better” than the previous quarter.
The company, which operates the Finnforest business, said the operating result excluding non-recurring items for the first quarter would amount to approximately €100m, compared to €44m in the last quarter of 2009.
It said the positive development was due to increased pulp prices and stronger than anticipated demand.
“The positive effects of Metsäliitto Group’s restructuring work are now starting to show in our result,” said Kari Jordan, Metsäliitto president and CEO.
Metsäliitto posted a €329m loss for 2009. Impairment charges, write-downs, cost provisions and falling sales hit the result.
