Poor results for Moelven in the third quarter
The combination of challenging international market conditions for Moelven's sawmills and losses linked to individual projects means that the Group returned a loss in the third quarter.
Moelven earned 56 million
In the second quarter, Moelven earned NOK 56 million from operations. That is NOK 85 million less than in the same period last year. After financial costs, profit for the quarter was NOK 28 million.
Moelven increases profit by NOK 150 million
Moelven earned NOK 242 million on operations in 2010, an increase in profit of NOK 151 million compared with last year.
Moelven posts losses of 27 million
A combination of a normal low season and discrepancy between the cost of raw materials and sales prices for key products meant that Moelven lost NOK 27 million in Q1.