UPDATE 1-Huhtamaki warns on Q1 profit, shares fall

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HELSINKI, March 31 (Reuters) - Finnish packaging maker Huhtamaki (HUH1V.HE) warned on Monday its operating profit in January-March would roughly halve from a year ago due to weak results at its Films unit, sending its shares lower.

Huhtamaki said its first-quarter operating profit would be about 20 million euros ($31.6 million), missing all eight analysts' forecasts collected by Reuters Estimates, which ranged from 28 million to 31.6 million.

Shares in Huhtamaki fell 2.1 percent to 6.89 euros by 1127 GMT.

Huhtamaki said it still expected operating profit for full-year 2008 to be at the level of the underlying operating profit in 2007, when it was 136 million euros.

Huhtamaki also said volatile raw material and energy prices as well as volatility in currency prices continued to be short-term business risks. (Reporting by Terhi Kinnunen; Editing by Paul Bolding)