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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 12:07

Estonian Forest Management Centre increases turnover and profit in 9 months

BC, Tallinn, 28.10.2014.Print version
The Estonian state-owned State Forest Management Centre (Riigimetsa Majandamise Keskus – RMK) earned 24.2 mln euros of profit on 115.8 mln euros of turnover in the first nine months of this year, LETA/Public Broadcasting reports.

The turnover grew by 4.1% and profit 13.8% in a year.

 

RMK's board chairman Aigar Kallas said that the profit and turnover growth was aided by favourable weather conditions that have enabled to process forest material faster than planned. This also means that demand for lower quality timber, i.e. heating timber is lower and the company has sold more expensive timber more. In the first quarter of the year, heating timber sales should increase and the year's results should be close to forecast.

 

RMK expects to earn 140 mln in sales revenue and 15 mn euros in profit this year.






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