July 23 (Reuters) - Finnish pulp and paper maker UPM on Tuesday reported a rise in second-quarter profit, but said it expects prices to fall in the second half of the year.
Operating profit excluding one-offs rose 3 percent to 345 million euros ($386 million), short of the 353 million expected by 9 analysts in a Refinitiv poll.
“In H2 2019, pulp prices globally are expected to be lower than in H1 2019. Paper prices in Europe and North America are expected to be moderately lower,” UPM said in a statement.
$1 = 0.8940 euros Reporting by Tarmo Virki in Tallinn; editing by Jason Neely