The company, which also saw sales grow to SKr8.25bn from SKr7.6bn, reported a strong improvement in market conditions for most products during the period.

Södra president Leif Brodén said he expected a “significant upswing” with higher profits when customers raised their prices, which he predicted would happen during the second half of the year.

The company said its extraordinary costs for processing storm timber were lower than had been anticipated due to record mill production.