Profits felled at biggest sawmill firm

BSW Timber, Britain’s biggest sawmill operator, saw pre-tax profits for the year to March fall to £6.8 million from £17.2m in the previous period.

The Berwickshire-based company, which operates six sawmills in the UK and one in Latvia, said sales rose from £162.9m to £180.4m but profits had been hit by greater competition and a rise in log prices.

In accounts filed to Companies House it said the current year will remain challenging but it will continue to invest. No dividend was paid, against 1.2p a share last year.