Wood based panels giant Egger said it intends to resume its growth strategy after posting a 33% rise in annual profits to €236m.

Egger, whose turnover dropped 2% to €1.47bn, said production volume increases, lower raw materials costs and a reduction in fixed costs have had a positive impact on operations in the past year.

“Thanks to a clear strategy and purposeful action, Egger has weathered the economic crisis well and can look to the future with optimism,it said.

The takeover of 71.5% of Turkish edging manufacturer Roma Plastik, it added, was a positive signal.

The furniture industry customer sector generated 46% of turnover, with the kitchen market performing especially well. Marketing of laminate flooring through DIY stores represented 9% of turnover.