Moelven's operating profit for the 1H 2017 was NOK 258 million ($33 million), compared to NOK 205 million ($26.3 million) in the 1H 2016. Moelven earned NOK 156 million ($20 million) from operations in the 2Q the year. Operating profit for the 2Q was down by barely NOK 20 million ($2.6 million) on the corresponding period last year, as the company said in the press release received by Lesprom Network.
Revenues in the 2Q increased marginally compared to the 2Q 2016 as a result of higher price levels. Revenues in the 2Q 2017 were NOK 2,941.5 million ($377 million) and NOK 5,618.9 million ($720 million) for the first six months.
CEO of Moelven Industrier ASA, Morten Kristiansen, said: "Demand for the group's products and services were very good. The reduction in the quarter's result compared with the 2Q 2016 was down to displacements in activity levels between the 1Q and 2Q due to Easter falling in the 2Q and the high season for construction products starting a bit later because of adverse weather conditions."
As a wood products company, Moelven delivers sawn goods, planed construction material and interior products, glulam, modular buildings and building solutions.
