Stora Enso‘s second quarter pre-tax profits dipped to €49m from €80.8m a year earlier, the company said in its January-June interim review.
The firm, which saw sales grow to €3.1bn from €3.05bn, predicted the bottom of the economic cycle had been reached and prospects were now improving.
Jukka Härmälä, Stora Enso’s chief executive officer, said the economic outlook was more positive than the first quarter but described the recovery as “moderate”.
He said whitewood supply and demand are expected to stay in balance but the redwood market will remain oversupplied.
