Swedish company Setra saw its operating profits soar by SKr186m to SKr125m, compared with the same period last year. Net sales were up from SKr3.9bn to SKr4.3bn, mainly as a result of higher prices.
“Raw material prices were raised during the quarter by an average of 7%, but continued strong demand in all our main markets meant we were able to retain our operating margins,” Setra’s president and CEO Kent Torwald said. “We expect this positive trend to continue.”
Meanwhile, Stora Enso reported increased market demand for wood products over the previous quarter and a year ago, allowing some price increases.
Sales in the third quarter were up from €3.61bn in the second quarter to €3.63bn, with profit before tax of €197m, up from €53m.
UPM reported quarterly operating profits of €173m, down from €180m, but the company’s non-recurring items were €37m bigger than a year ago. Sales were up to €2.49bn from €2.24bn, with the wood products business performing well.
