The council of A/s “Latvijas valsts meži” (LVM) has reviewed the company's performance results for the first six months of this year, during which LVM's profit before corporate income tax was 61.7 million euros, which is 24% more compared to the same period last year. The company's total revenue in the first half of the year was 184.6 million euros, of which 95% came from the sale of timber products.

“In the timber product markets, favourable sales conditions persisted in the second quarter – demand in the construction structural markets continued to exceed supply, which maintained sales prices at a high level. This was also reflected in the round timber market in Latvia, where prices for large-dimension softwood sawlogs reached record highs. After a long period of stagnation, the prices for firewood and small-diameter timber used in the production of pellets, boards, and pulp increased in Latvia during the second quarter,” explains Jurģis Jansons, Chairman of the LVM Council.