Metsäliitto sounds profits warning

Metsäliitto Group, the Finnish forest products manufacturer, expects to record a weaker operating result (excluding non-recurring items) in the last quarter of 2011.

The group, which operates the Finnforest wood products business, said delivery volumes of pulp, paper and board have been lower than expected and the pulp price has decreased more than anticipated.

“Due to these facts Metsäliitto Group estimates its operating result excluding non-recurring items in the last quarter of 2011 to be clearly weaker than in the third quarter,” it said in a statement.

“Metsäliitto Group has initiated measures that enable adjusting the production to meet the demand by temporary layoffs and working time arrangements.”

In the third quarter, the group posted operating profits excluding non-recurring items of €63m.