April 27, 2018 / 6:26 AM / 7 months ago

Essity Q1 core profit just lags expectations

STOCKHOLM, April 27 (Reuters) - Hygiene products group Essity posted on Friday a smaller rise than expected in first-quarter core profit as higher pulp costs weighed but emerging market growth, price increases, savings and a recent acquisition helped.

Operating profit before amortisation and one-off items at Essity, which was spun off from Swedish SCA in 2017, grew 7 percent from a year ago to 3.12 billion crowns ($360 million). Analysts’ mean forecast in a Reuters poll had been for a 9 percent increase to 3.18 billion.

Higher raw material costs had a negative impact of 755 million crowns. Price increases partly offset the higher costs.

$1 = 8.6613 Swedish crowns Reporting by Anna Ringstrom

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