Steico reports reduced profits

19 December 2011

German wood fibre insulation and I-joist manufacturer Steico has reported reduced profits on the back of increased competition and a poorer economic climate for its products.Profits before interest and tax were €7.2m for the first nine months (2010: €8.1m), while sales increased 13.9% to €110.7m (2010: €97.2m).