Stora Enso Mets As, the Estonian subsidiary of Scandinavian company Stora Enso, ended last year with a €43,260 profit.
Sales were below the previous year and profits were affected by the tough trading conditions in forestry.
Company ceo Rait Hiiepuu said: ‘The world market price of timber plummeted and the situation hasn’t yet started to recover.’
An upturn is not expected in the first half of 2002 as weather conditions have made logging difficult.
Imports of Russian timber are well below last year’s level because of wet weather and high rail tariffs.
