Mason steps back into the industry four months after his departure from PaperlinX.

Described by Inveresk chief executive Alan Walker as a "legend in the paper industry", Mason left his role as chairman of operations in the UK, Ireland and South Africa with PaperlinX at the end of May (PrintWeek, 27 May).

Inveresk's results for the six months to 30 June were described by Walker as its most frustrating.

Profits were eroded by currency fluctuations, with both the US dollar and euro weakening against sterling. "Market conditions remain generally depressed with strong competition restricting our ability to increase margin contribution," said Walker.

Profits before interest fell 38% to 1.2m, with sales down to 19.9m, a fall of 8.8% on the same period last year.

Its mills at St Cuthbert's and Carrongrove reported mixed fortunes during the period. St Cuthberts' performance was described as disappointing. Carrongrove, meanwhile, gave a steady performance helped by the relaunch of the mill's principal brand Gemini.

The firm said currency performances would determine profitability for the remainder of the year.

Story by Andy Scott