October 25, 2012 / 6:51 AM / 5 years ago

Paper maker UPM misses expectations in Q3 on weak Europe margins

HELSINKI, Oct 25 (Reuters) - Finnish forestry group UPM-Kymmene reported a smaller-than-expected quarterly profit, due to weak margins in its European paper business.

Its underlying operating profit in the third quarter fell 10 percent from a year ago to 122 million euros ($158 million), missing all analysts' forecasts which averaged 137 million euros in a Reuters poll.

UPM, the world's biggest producer of graphic papers, also repeated it expected its full-year core operating profit to fall from 2011. ($1 = 0.7711 euros)

Reporting By Jussi Rosendahl; Editing by Ritsuko Ando

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