|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||0.93|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Unlikely breakthrough comes from Europe’s largest forestry company
(Reuters) -Finnish forestry firm Stora Enso warned on Friday that fourth-quarter profit for its packaging business, its biggest division, would be hurt by soaring energy costs, sending its shares sliding. European manufacturers are grappling with sharp rise in energy prices caused by Russian curbs on natural gas. Stora Enso said its paper division, while seeing solid demand, would also be hit by higher energy costs as well as maintenance work.
Finnish forestry group Stora Enso said on Tuesday it would sell its Maxau paper production site in Germany to Schwarz Group, the owner of discount supermarket chains Lidl GB and Kaufland. The transaction is part of Stora Enso's plan to divest four of its five remaining paper production sites as it shifts its focus to packaging. "Schwarz's plan is to continue paper production at the site, and the 440 employees belonging to the mill organisation at Maxau will be part of the transaction," Stora Enso said in a statement.