The market value of the Group's holdings of listed securities increased by 13% during the first half of the year, equal to SEK 3,361 million including dividends received from Tele2 and Transcom totaling SEK 260 million. On 30 June 2006 the market value of the listed share portfolio amounted to SEK 28,783 million.
On 12 May, the European Commission approved Korsnäs' acquisition of Frövi for SEK 3,647 million from Sveaskog; the acquisition was completed shortly thereafter.
On 31 May, the sale of Korsnäs Packaging for SEK 667 million, excluding 20% of the shares in Valvosacco S.p.A., to JSC Segezha Pulp and Paper Mill was completed.
Revenue for Korsnäs Industrial increased by 22% to SEK 2,299 million and operating profit increased from SEK 123 million to SEK 326 million, of which revenue for Korsnäs Frövi amounted to SEK 202 million from the date of consolidation on 1 June. The operating profit for the first half of 2005 was affected by the rebuild of Paper Machine 4 and maintenance stoppage, amounting to approximately SEK 170 million. Korsnäs Frövi's operating result for the month of June 2006 was negatively impacted by SEK 28 million due to that acquired assets are valued at fair value at the time of acquisition and amounted to a loss of SEK 4 million.
Revenue for the Group totaled SEK 2,707 million (2,279) and operating profit was SEK 303 million (132).
Including the increase in the fair value of financial assets and result from discontinued operations, the Group reported a profit after tax of SEK 3,692 million (loss of 727) for the first six months of the year.
The profit per share for continuing operations was SEK 14.03 (loss of 2.98).
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