Sales improved 3% to €361m compared to a year ago.

Sonae said its strategy to become more lean and efficient was resulting in some positive effects, while the combined effect of a better product mix and a recovery in average selling prices also helped.

Iberian volumes rose 4% and were worth €102 during the quarter, while the central Europe division (Germany, France and the UK) registered a 3% growth in turnover to €202m.

German sales turnover rose 2% on the back of a 21% increase in new house construction permits, with France seeing a 11% rise.

But construction sector woes affected its UK business, where turnover was “flat”.

“We have been facing difficulties in obtaining the necessary licenses to install the recycled wood cleaning equipment which is necessary for the viability of this plant,” it said.

Source: TTJ

Posted and edited by Riona, Hanbao News Department

Contact: rionach@cltimber.com