Aug 18, 2008. /Lesprom.com/. Swedish forest products manufacturer Holmen has posted half-year profits after tax of SKr395 million ($62 million), down from SKr726 million ($114 million) a year ago, The Timber Industry Magazine reported. The company, which has timber, paper and board operations, saw turnover grow slightly to SKr9.7 billion ($1.5 billion). Its Iggesund and Holmen Timber operations saw lower results, partly because of maintenance and rebuilding stops. Holmen Timber’s turnover for the period was SKr273 million ($43 million), down from SKr313 million ($49 million) a year ago. Operating profits were down from SKr74 million ($11 million) to SKr21 million ($3 million), due to lower prices and deliveries. “The market situation for sawn timber was weak with further falls in prices during 2Q 2008,” Holmen said. The 2Q was particularly tough with the division recording a loss of SKr2 million ($0.3 million), compared with profits of SKr23 million ($3 million) during the 1Q. However, Holmen’s sawmill project at Braviken in Norrköping is continuing to plan.