Holmen Papers operating profits were cut in half to 49m for the first nine months of the year, while net turnover fell 3% to 445m.

Although prices were unchanged during the third quarter, on average they were 10% lower than last year. Deliveries for the first nine months were 10% higher than in the corresponding period last year as the division increased its exports to countries outside Western Europe. Last years deliveries were also affected by the replacement of a paper machine at its Hallsta mill.

Group net turnover from January to September fell 1% to 907m (SEK11.8bn), while profit after tax dropped 24% to 88.2m.