Russian sawmilling group Rusforest AB has posted an annual net loss of SKr288.7m (2010: SKr-130.2m).

But the company, which has been relentlessly expanding in recent years, says its average revenue of cubic metre sold is rising and the average cost of production is falling, “making it fully possible to reach positive EBITDA during 2012, all else being equal”.

The company, which has five sawmills, sold 218,489m3 of sawn timber in 2011, a 54.7% growth on 2010.

Annual turnover rose to SKr431.89m (2010: SKr300.8m).

Source:TTJ

Posted and edited by Riona, Hanbao News Department

Contact: rionach@cltimber.com