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Södra Q1 results “better than expected”

Södra has reported a net sales increase of 11% to SEK 6,318m in its first quarter results.
Operating profit increased 22% to SEK 1,148m.
The company said the result is due to “favourable demand and continued high price levels, combined with production facilities that delivered an excellent performance”.
Lars Idermark, president and chief executive, said: “Despite signs of a slowing global economy, Södra’s first quarter result was better than expected.
“Prices for the company’s core products – market pulp and sawn timber – remained at a favourable level throughout the quarter, even though a certain price decrease was foreseeable.”
In the Södra Cell business area, the company reported an operating profit of SEK 1,112m compared with SEK 926m year-on-year.
It said this was mainly attributable to “a continued high price level, a favourable USD exchange rate.”
Sales for the division amounted to SEK 3,501m compared to SEK 3,129m.

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