Selkirk timber firm upbeat despite losses
A Borders timber firm has announced losses of more than £300,000 for last year, blaming the rising cost of wood.
Oregon Timber in Selkirk manufactures and supplies timber frames to the construction industry.
It has posted a pre-tax loss of £334,262 in 2010, compared to a pre-tax profit of £21,705 the year before.
However, turnover climbed to £12.3m compared with £8.8m last time, in spite of the contraction in the housebuilding industry in general across the UK.
Oregon blamed the losses on an "unprecedented increase in timber prices in the first half of 2010, which resulted in a severe erosion of margin".
The company's directors said they remained upbeat and that costs had been more stable in the current year and margins were being "rebuilt though a combination of cost cutting and selective pricing of work".