Nordic Business Report-April 25, 2006-UPM-Kymmene Corporation reports 3-month operating profit of EUR170m
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Finnish paper industry company UPM-Kymmene Corporation reported on Tuesday (25 April) an operating profit of EUR170m on sales of EUR2.46bn for the financial quarter January-March 2006.
Operating profit for the three-month period decreased from EUR203m while sales increased from EUR2.28bn, as compared to the corresponding period in 2005.
Jussi Pesonen, CEO of the company, said that UPM's result was still weak and confirmed the company's view on the necessity of its three-year profitability programme.
The profit for the second quarter is expected to be impacted by planned non-recurring charges related to the programme to restore profitability, the CEO added.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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