Sales at the Austria-based group grew 11% to €1.9bn. The company, which is celebrating its 50th anniversary, said the acquisition and expansion of the Russian particleboard plant in Gagarin had contributed "disproportionately" to the increase in operating profits.

Three-quarters of total sales were decorative wood products. Sales in the furniture and interior design division grew 16% to €1.57bn.

"Compared with last year we have expanded our market share in this segment in a difficult environment," said Ulrich Bühler, Egger group executive responsible for sales and marketing.

The building products division, which incorporates lumber and OSB, saw sales fall to €167m (2011: €186m). The retail products division, which focuses on flooring, recorded sales of €348m (2011: €329m).