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HELSINKI Feb 7 Finnish media group Sanoma
said its quarterly core operating profit fell 41
percent due to weaker sales of advertising and print
publications, in line with expectations.
While fourth-quarter core operating profit fell to 32
million euros ($43 million), the company proposed to maintain an
annual dividend of 0.60 euros per share. Analysts on average
expected a cut to 0.55 euros, according to a Reuters poll.
Sanoma said advertising sales fell 7 percent in the fourth
quarter while circulation, subscription and single copy sales
fell about 5 percent from a year earlier.
Sanoma, which publishes around 300 magazine titles in 11
European countries, forecast little change in sales and profits
this year from 2012.
Shares in the company rose 3.0 percent to 7.63 euros by 0946
The firm in recent years has been selling off some non-core
assets, focusing instead on learning material and digital
businesses. Its main markets are in Finland, Netherlands,
Belgium and Russia.
($1 = 0.7387 euros)
(Reporting By Jussi Rosendahl)