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Stora Enso Q3 Profit Drops - Quick Facts

Stora Enso (SEOAY.PK), a Finnish pulp and paper manufacturer, reported that its third-quarter profit attributable to owners of the parent dropped to 70 million euros or 0.09 euros per share from 214 million euros or 0.27 euros per share in the previous year.

Earnings per share, excluding items affecting comparability, decreased to 0.13 euros from 0.31 euros in the prior year.

Group sales decreased 7.1% to 2.40 billion euros from last year's 2.59 billion euros, reflecting lower pulp, containerboard and sawn goods prices, with significantly lower paper deliveries and the divestment of Dawang Mill in China were only partly offset by positive sales currency rates.

Looking ahead for the fourth-quarter, the company expects operational EBIT to be in the range of 100 million euros - 180 million euros.

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