July 23, 2020 / 6:27 AM / 20 days ago

CORRECTED-Finnish forestry firm UPM quarterly profit falls less than expected

(Corrects EBITDA figures)

July 23 (Reuters) - Finnish paper and pulp producer UPM reported on Thursday a smaller-than-expected fall in quarterly profits, saying lockdowns hit paper demand and prices.

UPM’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the April-June quarter fell to 320 million euros ($371 million) from 466 million a year earlier, beating the 295 million expected by analysts in a Refinitiv Eikon poll.

$1 = 0.8633 euros Reporting by Tarmo Virki in Tallinn; Editing by Edmund Blair

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