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UPM profit falls on weaker paper demand, prices
April 25, 2013 / 6:46 AM / 5 years ago

UPM profit falls on weaker paper demand, prices

HELSINKI, April 25 (Reuters) - The world’s largest graphic paper maker UPM-Kymmene reported a fall in quarterly profit as expected, squeezed by falling paper demand and prices in Europe.

UPM’s first-quarter adjusted operating profit fell 7.7 percent from a year ago to 144 million euros ($187 million), matching the market’s average forecast in a Reuters poll. Its adjusted operating profit margin fell to 5.8 percent from 6.0 percent a year earlier.

Europe’s recession has accelerated a shift from traditional print media to digital devices. ($1 = 0.7695 euros) (Reporting By Jussi Rosendahl)

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