UK markets closed
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • FTSE 250

    18,636.98
    -29.80 (-0.16%)
     
  • AIM

    875.21
    -1.01 (-0.12%)
     
  • GBP/EUR

    1.1593
    -0.0018 (-0.16%)
     
  • GBP/USD

    1.2103
    -0.0072 (-0.59%)
     
  • BTC-GBP

    15,996.60
    +265.53 (+1.69%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • DOW

    31,097.26
    +321.83 (+1.05%)
     
  • CRUDE OIL

    108.46
    +2.70 (+2.55%)
     
  • GOLD FUTURES

    1,812.90
    +5.60 (+0.31%)
     
  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     
  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     
  • DAX

    12,813.03
    +29.26 (+0.23%)
     
  • CAC 40

    5,931.06
    +8.20 (+0.14%)
     

Finland's Stora Enso raises full-year profit outlook

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: Stora Enso company logo is seen near a packaging mill in Riga
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

OSLO (Reuters) - Finnish forestry firm Store Enso said on Monday it had raised its full-year earnings guidance thanks to sustained strong market conditions.

The company now expects its operating profit for 2022 to exceed last year's level of 1.53 billion euros ($1.60 billion), it said in a statement.

The maker of pulp, packaging, wood construction materials and other forestry products previously guided for a profit approximately in line with the full year 2021.

"During 2022, all the main markets of Stora Enso have experienced continued strong performance, with increased visibility and predictability for the full year," the company said.

"The strong underlying demand and commercial momentum has continued across all six divisions and geographies."

All divisions remain fully booked and there is still a tight supply and demand balance in many product categories. The second quarter started with high selling prices, which have continued to mitigate inflationary pressures, Stora Enso added.

($1 = 0.9543 euros)

(Reporting by Terje Solsvik; Editing by Kirsten Donovan)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting