April 26, 2019 / 6:56 AM / 3 months ago

Pulp and paper maker UPM reports rise in Q1 profit

HELSINKI, April 26 (Reuters) - Finnish pulp and paper maker UPM on Friday reported an expected rise in first quarter profits as it was able to increase prices faster than costs increased.

Operating profit excluding one-offs rose 5 percent to 374 million euros versus the 379 million expected by 9 analysts in a Reuters poll.

“In five of our six business areas, prices increased more than offsetting the higher costs and keeping overall margins healthy,” Chief Executive Jussi Pesonen said in a statement.

Reporting by Tarmo Virki and Anne Kauranen; editing by Jason Neely

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