Sales of newsprint fell 15% from the same time last year to 261m and fine papers sales dropped 12% to 498m, although packaging board sales were up 11% to 493m. Overall turnover fell by 3% to 2bn.
The Finnish-Swedish producer, which overtook International Paper as the worlds largest paper and board producer earlier this month, suffered a 42% fall in net profits to 87m.
"The outlook for our main markets still remains challenging, with no visible signs of improvement in print advertising, particularly in the USA," said chief executive Jukka Hrml.
Have your say in the Printweek Poll
Related stories
Latest comments
"As a competitor of those you mentioned, their (and other South West finishers) pre packing exploits used to drive us mad. Actually the base customers were part of the issue (printers) constantly..."
"Hi Keith, perhaps there was a misguided belief that when a company goes bust that spreading out the pain ( debt ) was a reasonable response, after all so many businesses must be making loads of profit..."
"Hit the nail on the head there Dave, it becomes smoke and mirrors as we here about the jobs being saved at say Celloglas or Folio or RNB etc but we rarely get to hear about the negative effect further..."
Up next...
Business to be wound up
Print manager Griffin Media Solutions appoints administrators
Burgeoning merch range
Northside hosts celebrity canine client
Newly created role
Macfarlane supports European ambitions with senior appointment
Reinvention plans are 'a multi-year journey'