Another pulp & paper sectory player which has had to go through some tough times in the last few years is M-Real Corporation (OMXH: MRLAV, OMXH; MRLBV). It has so far managed the turn-around a little bit better but today’s quarterly report raised worries once again. Second quarter operating profit excluding non-recurring items dropped to 32 million Euros. A shutdown at Simpele pushed reported operating profit to -32 million.
M-Real said that short term profitability is affected by softening demand in paper products. The company expects board production profitability to remain good. The more liquid B-share fell 24% on the report.
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