Profit soars at UPM-Kymmene

26 April 2005 – Helsinki (FIN): UPM-Kymmene has posted soaring Q1 profits on the back of cost cuts and higher paper prices.

Q1 pre-tax profit more than doubled year-on-year to €148 million ($193.4 million), up from €61 million a year ago, excluding a capital gain of €89 million from the sale of its shares in Finnish Metso.

The Finnish paper maker remained positive for Q2 figures, which it said would be boosted by good demand and further rises in paper prices.