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Holmen Q2 operating profit tops expectations

Thu Aug 13, 2009 6:25am EDT

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STOCKHOLM, Aug 13 (Reuters) - Swedish paper maker Holmen (HOLMb.ST) posted a higher-than-expected profit for the second quarter on Thursday but said the demand for its products had remained weak.

Operating earnings rose to 372 million Swedish crowns ($50.64 million) from a year-ago 257 million to come in above the 343 million seen in a Reuters poll of 10 analysts.

Holmen said sales at the group totalled 4.50 billion crowns in the quarter, down from 4.83 billion a year earlier, and in line with the average forecast in the poll.

(Reporting by Veronica Ek)



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