HELSINKI (dpa-AFX) - Stora Enso (SEOAY.PK), a Finnish pulp and paper manufacturer, reported Wednesday that its third-quarter net profit soared 246.4 percent to 229 million euros from 86 million euros last year.
Earnings per share were 0.38 euro, up from 0.11 euro last year. Earnings per share excluding fair valuations were 0.37 euro, compared to 0.12 euro a year ago.
Operational EBIT increased to 410 million euros from 175million euros last year, driven by higher volumes and prices, especially in Biomaterials, Wood Products and Packaging Materials.
Sales increased 23.9 percent to 2.58 billion euros from 2.08 billion euros a year ago, due to higher prices and deliveries.
Stora Enso said it is investing 97 million euros to expand board production at the Skoghall site in Sweden.
Looking ahead, the company said the global economic activity remains at a healthy level with resilient demand for Stora Enso's products in key segments.
The annual outlook for the full year 2021 remains as previously guided. Operational EBIT in 2021 is expected to be higher than the 2020 operational EBIT.
Copyright RTT News/dpa-AFX
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