July 19, 2018 / 5:30 AM / 3 months ago

Essity Q2 core profit slides as higher pulp prices weigh

STOCKHOLM, July 19 (Reuters) - Swedish hygiene products group Essity reported on Thursday a slightly bigger slide than expected in second-quarter core profit and announced further price hikes on consumer tissue to better compensate for higher pulp costs.

Operating profit before amortisation and one-off items at Essity, which was spun off from forestry firm SCA in 2017, shrank 3 percent from a year ago to 3.35 billion crowns ($378 million). Analysts’ mean forecast in a Reuters poll had been for a 1.5 percent drop.

Higher raw material prices had a negative impact of 1.14 billion crowns. Price increases partly offset the higher costs.

$1 = 8.8591 Swedish crowns Reporting by Anna Ringstrom

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