Setra reported positive monthly earnings in September for the first time since February, 2008.

The company recorded operating losses of SKr27m in the third quarter, an improvement of SKr44m on the previous quarter.

Net sales for the period totalled SKr958m, down from SKr1.1bn a year earlier.

Setra president and CEO Börje Bengtsson said September’s positive performance was “highly gratifying and an effect of both external factors and internal measures”.

“Since the summer we have seen an economic recovery, with positive development for both demand and price levels,” he said.

But Mr Bengtsson said Setra’s assessment for the future was cautiously positive. “The weak construction market, however, means that no significant increase in demand can be expected until 2010 at the earliest. Rising sawlog prices are also a worrying factor,” he said.