Pulp and paper group UPM raises profit outlook for 2021

Finnish forestry group UPM on Thursday raised its full-year outlook, saying it now expected to make a comparable operating profit helped partly by a faster rise than expected in pulp prices. It said in a statement it now expected its comparable operating profit to be higher in the first half of the year than in the correspondent period a year earlier, and the full-year profit to be higher than in 2020.

Previously, the company expected its first-half profit to be lower than a year earlier.

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