UPM Q1 profit flat as pulp market recovers

Finnish pulp and paper producer UPM on Tuesday posted flat comparable operating profit for January-March, as stronger pulp demand balanced weakening paper market.

"Pulp demand has continued to be good and pulp prices have increased rapidly," UPM said in a statement.

In mid-April UPM pre-released first-quarter numbers and forecasts for rising profit for the first half and full year.