Billerud's operating profit in the fourth quarter amounted to 75 million Kronor, a decrease of 221 million compared with the previous quarter. The decline is mainly due to less favourable prices and a periodic maintenance shutdown at the Gruvön mill.For the full year 2011 Billerud reports that net sales increased by six percent from the previous year to 9,343 million Kronor. Operating profit amounted to 978 million Kronor, a decrease of six percent, compared to 2010. Lower operating profit for the Market Pulp business area was partly compensated by higher operating profit for the packaging paper segments.The Board of Directors proposes a dividend of 3.50 Kronor per share for 2011 (3.50).“2011 started very positively with high demand and rising prices, which resulted in very strong earnings. The year ended more moderately after a fall in demand in the summer and autumn, price pressure on packaging paper, falling pulp prices and decreasing customer stocks,” Per Lindberg, CEO of Billerud, comments.”Despite this, we are delivering a very strong result for the full year with an operating margin that met our ten percent target and a return on capital employed of 20 percent,” Lindberg says.”In order to further strengthen our competitiveness, a decision was made during the fourth quarter to invest approximately 900 million Kronor in the Skärblacka mill. This investment will improve energy efficiency and environmental performance as well as enabling future expansion,” Per Lindberg adds.