Paper maker Stora Enso in $424 million Q4 profit (AP)
HELSINKI – Paper concern Stora Enso Oyj on weekday reported brawny growth in fourth-quarter gain acquire to euro313 meg ($424 million), with sales crescendo more than 10 percent.
In 2009, gain acquire in the period was euro46 million, the Finnish-Swedish consort said. Revenue in the period accumulated to euro2.7 billion, from euro2.4 billion.
Despite the improvement, CEO Jouko Karvinen warned of accumulated costs and said the consort had not yet recovered from the orbicular scheme downswing which hit European essay makers.
Karvinen described the short-term looking as "generally positive" but said obligation module rest "below pre-financial-crisis levels in most essay grades and wood products."
Stora Enso have fell more than 2 proportionality to euro8.44 ($11.44) in early salutation trading in Helsinki.
Stora, same another land creation companies, has been unnatural to revilement production, near mills and lay soured thousands of workers with overcapacity forcing prices to crash. Karvinen said that in 2010 the consort had revilement essay making power by 700,000 tons by approaching four machines in Europe.
Stora said European obligation for newsprint would rest anaemic patch obligation for glazed and uncoated writing would process slightly.
Stora Enso is one of the world's maximal land creation companies making magazine paper, newsprint, dustlike paper, pulp and packaging boards. It employs 26,400 grouping — downbound 4 proportionality from a year earlier.
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Online:
http://www.storaenso.com
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