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Finnish forestry firm UPM's profit falls more than expected

Credit: REUTERS/Bob Strong

Finnish paper and pulp producer UPM reported on Tuesday a bigger-than-expected fall in quarterly profits due to weak paper markets and low pulp prices.

HELSINKI, Oct 27 (Reuters) - Finnish paper and pulp producer UPM UPM.HE reported on Tuesday a bigger-than-expected fall in quarterly profits due to weak paper markets and low pulp prices.

UPM, which announced vast job cuts in the quarter, said its earnings per share for the July-September period fell to 0.15 euros from 0.46 euros a year earlier, missing the average 0.29 million euros expected by analysts in a Refinitiv Eikon poll.

(Reporting by Anne Kauranen; Editing by Kirsten Donovan)

((anne.kauranen@thomsonreuters.com; +358925166112;))

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