Metsä Wood posts €4m Q1 profits

Metsä Wood has recorded €4m in operating profits in the first quarter and believes profitability will strengthen in the second quarter.

Metsä, formerly known as Finnforest, said the building trade was expected to recover due to the normal seasonal growth in demand. Sales totalled €222m for the first period.

Group-wide, Metsä’s pre-tax profits plunge to €10m from €89m a year ago, with sales of €1.2bn (2011: €1.4bn). Its 2011 full-year result shows a €98m pre-tax loss from sales of €5.3bn. “Metsä Group’s new corporate identity has been received well in the market, and it enhances the group’s competitiveness,” it said.