Holmen Papers operating profits were cut in half to 49m (SEK638m) 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 same 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, while profit after tax dropped 24% to 88.2m.