Brief: Bergs Timber Q2 Operating Profit Down At SEK 38 Mln

Bergs Timber AB (publ)

31/07/2019 12:07

July 31 (Reuters) - Bergs Timber AB (publ)  BRGb.ST :
    * INTERIM REPORT FOR BERGS TIMBER AB (PUBL) 1 JANUARY 2019 -
30
JUNE 2019
    * NET SALES FOR Q2 2019 AMOUNTED TO SEK 913 (711) MILLION
    * Q2 OPERATING PROFIT AMOUNTED TO SEK 38 (55) MILLION
    * MARKET DEVELOPMENT FOR SAWN SPRUCE TIMBER REMAINS
UNCERTAIN FOR
SECOND HALF OF THIS YEAR
    * WE EXPECT A LESS VULNERABLE MARKET SITUATION FOR SAWN PINE
TIMBER THAN FOR SPRUCE TIMBER AND THIS IS TRUE ALSO OF OUR
BY-PRODUCTS
    * MARKET FOR FURTHER PROCESSING IS EXPECTED TO REMAIN GOOD
    * WE ARE WORKING HARD TO INCREASE PRODUCTION OF OUR MORE
PROFITABLE FURTHER PROCESSED PRODUCTS
    * DURING SECOND HALF OF THIS YEAR, NEW HOUSE BUILDING
PRODUCTION
LINE AT BYKO-LAT IN LATVIA WILL START
    * BERGS TIMBER - DURING Q2 RESULTS FOR SAWMILLS HAVE
DECLINED
SIGNIFICANTLY. THIS DOES NOT CHANGE OUR MEDIUM TO LONG TERM
POSITIVE OUTLOOK
    * WE ARE STRENGTHENING OUR SWEDISH SALES ORGANISATION AND
BUILDING
A COMPLETELY NEW ORGANISATION FOR OUR UK DISTRIBUTION COMPANY
    * WE ARE STRENGTHENING OUR SWEDISH SALES ORGANISATION AND
BUILDING
A COMPLETELY NEW ORGANISATION FOR OUR UK DISTRIBUTION COMPANY,
WE EXPECT POSITIVE RESULTS FROM THESE CHANGES DURING 2020
    * DEMAND FOR TIMBER, AS A RENEWABLE AND EFFECTIVE BUILDING
MATERIAL, IS INCREASING

Source text for Eikon:  ID:nWkr4WtqPW 
Further company coverage:  BRGb.ST 

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