Holmen doubles profit in H1


Holmen has more than doubled its net profit in the first six months of 2011. The group's net income jumped to SEK672m against the same period 2010. Operating profit improved by almost 80% to SEK1,050m compared with the first half of 2010. Net sales in H1 2011 amounted to SEK9,508m.

Holmen Paper posted SEK127m in operating profit on good newsprint and magazine paper demand and higher prices. Operating income of Iggesund Paperboard increased by SEK138m to SEK482m due to higher prices. Deliveries of solid bleached board and folding boxboard were 9 per cent up versus the same period of the last year despite a 1% dip in European demand, the group says. Holmen Timber and Holmen Energi performed weaker.

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