Posted AT 9:03 AM EDT on 18/06/08
Finnish paper firms warn of higher costs
HELSINKI — Rising raw materials and energy costs drew profit warnings from the world's top paper and packaging firms Stora Enso Oyj, UPM-Kymmene, and Huhtamaki on Wednesday, sending shares in all three tumbling.
Stora Enso said its second-quarter operating profit would halve from a year ago, with rising energy, transport and chemical costs set to weigh on second half profits too.
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