Feb 02, 2011. /Lesprom Network/. Norwegian timber and glulam producer Moelven earned NOK 242 million ($42 million) on operations in 2010, an increase in profit of NOK 151 million ($26 million) compared with last year, as the company said in a press release received by Lesprom Network. Moelven’s earnings for 2010 reached NOK 7 billion ($1.2 billion), representing an increase in turnover of NOK 937 million ($162.7 million). The board expects continued growth for the Building Systems division, but the group results at the start of 2011 will be unsatisfactory as a result of weak margins in the Timber and Wood divisions. Lower raw material costs coming into effect from the end of 1Q are expected to contribute to better margins for both divisions. The Wood building materials division is also expected to benefit from the seasonal upswing in building activity for better results in 2Q. Improved market conditions for industry in Europe are expected to take longer to contribute to improved results for the Timber industrial goods division. Overall, the board expects group results for 2011 to be a little lower than the year before.