Finnforest group sees sales slump

The wood products division of Metsäliitto which includes the Finnforest business, made a €25m loss during the first quarter.

Wood product sales totalled €202m, down from €315m a year earlier, with results hit by a “distorted cost structure as a result of the low capacity utilisation rates.

The group recorded a loss of €93m before tax and excluding non-recurring items. Sales were €1.27bn, down from €1.71m a year earlier.

The group said cost adjustments would continue in all operations during the second quarter.