Stora Enso‘s operating profits in the second quarter were 49.5% down on the previous three months.

Operating profits were €106.7 and sales €3.057bn. Pre-tax profits totalled €86.9m, compared with €129.3m in the preceding quarter.

Company chief executive officer Jukka Härmälä said global economic activity was “muted” but timber product prices were expected to remain stable.