Metsäliitto expects its first quarter operating results to be stronger than the fourth quarter of 2008.

In a Stock Exchange announcement, the company also said results, excluding non-recurring items, would be weaker than the corresponding period last year.

It said demand and delivery volumes have been weaker than expected and production adjustments have had to be continued in an even larger scale than earlier planned.

Metsäliitto recently posted a €192m loss for 2008.