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)