January 31, 2019 / 7:56 AM / 3 months ago

Pulp and paper maker UPM Q4 profit rise smaller than expected

HELSINKI, Jan 31 (Reuters) - Finnish pulp and paper maker UPM reported on Thursday a smaller-than-expected rise in quarterly profit, citing disappointing performance at its Specialty Papers unit and uncertainties in the global economy.

Fourth-quarter operating profit excluding one-offs rose 10 percent from a year ago to 404 million euros ($465 million), thanks to higher prices across its portfolio, but still missing analysts’ average expectation of 420 million in a Reuters poll. ($1 = 0.8688 euros) (Reporting by Tarmo Virki and Anne Kauranen Editing by Keith Weir)

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