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Sveaskog Baltfor raises turnover 21.6% in 2017
BC, Riga, 05.07.2018.
Print version
Print versionSveaskog Baltfor, the Latvian timber-dealing subsidiary of Sweden's Sveaskog Forvaltings AB, turned over EUR 19.127 million in 2017, up 21.6 percent against a year before, while the company’s profit grew 78.3 percent year-on-year to EUR 723,425, writes LETA, according to information available at Firmas.lv.
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The company’s management reported that last year Sveaskog Baltfor purchased round timber and woodchip in the Baltics, mainly in Latvia. Long-term partnerships ensured steady pulpwood deliveries via Estonian ports. The byproducts obtained in the production process ensured woodchip sales.
Demand for the company’s products was stable in the first half of 2017 and tended to grow towards the end of the year.
In 2018, Sveaskog Baltfor plans to invest in upgrades of its production equipment, the management said.
According to information from Firmas.lv, Sveaskog Baltfor closed 2016 with EUR 15.728 million in turnover and a profit of EUR 405,780.
Sveaskog Baltfor, established in 1996, belongs to Sweden’s Sveaskog Forvaltings AB.
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