Mar 02, 2009. /Lesprom Network/. PaperlinX posted a first-half net loss of $560.9 million on a write-down from the sale of its Australian papermaking assets, as The Australian informed Lesprom Network. Australia’s largest papermaker reported a net profit of $35.3 million a year earlier. Revenue in the six months ended December 31 was $3.78 billion, little changed from the same period a year ago, despite sales volume falling 7% to 2 million tonnes from 2.11 million tonnes. Its operating profit was $6.6 million before significant items, down 81% from last year’s $35.3 million. Earlier this month Nippon Paper Group, Japan’s second-largest papermaker by sales, agreed to buy its Australian Paper unit for up to $700 million. The papermaking unit had assets valued at $1.15 billion at June 30 and PaperlinX wrote down $567.5 million in the half to reflect the sale. Proceeds from the sale, which is expected to settle by mid year, would be used to pay debt. PaperlinX is the world's leading fine paper merchant and an Australian manufacturer of high performance communication paper and packaging paper.