{"id":134630,"date":"2020-07-25T05:02:19","date_gmt":"2020-07-25T00:02:19","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=134630"},"modified":"2020-07-25T05:02:19","modified_gmt":"2020-07-25T00:02:19","slug":"decline-in-demand-for-print-papers-hits-forestry-giant-upm","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/decline-in-demand-for-print-papers-hits-forestry-giant-upm\/","title":{"rendered":"Decline in demand for print papers hits forestry giant UPM"},"content":{"rendered":"<p>HELSINKI: Finland-based forestry giant UPM (United Paper Mills) has reported a 20 percent decline in turnover and a 41 percent decline in profits in Q2 2020, year-on-year. UPM\u2019s profit reached 203 million euros (USD 235 million) in Q2, compared with 345 million euros in the corresponding period last year. The turnover of Q2 2020 was 2,077 million euros, down from 2,605 million euros in Q2 2019. In its report, UPM said besides diminished deliveries of graphic paper, the decline was caused by lower price levels of both paper and pulp. Jussi Pesonen, president and CEO of UPM, noted in the press release on Thursday that demand for graphic paper declined in Europe by 32 percent during Q2 2020, due to anti-COVID-19 measures. \u201cUPM Communication Papers reported a loss for the first time in five years,\u201d said Pesonen. UPM Communication Papers is the world\u2019s leading producer of graphic papers. UPM made savings in costs, but could not offset the bad market development, said Pesonen, adding that demand for special papers had increased. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HELSINKI: Finland-based forestry giant UPM (United Paper Mills) has reported a 20 percent decline in turnover and a 41 percent decline in profits in Q2 2020, year-on-year. UPM\u2019s profit reached 203 million euros (USD 235 million) in Q2, compared with 345 million euros in the corresponding period last year. The turnover of Q2 2020 was [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-134630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Decline in demand for print papers hits forestry giant UPM<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/decline-in-demand-for-print-papers-hits-forestry-giant-upm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Decline in demand for print papers hits forestry giant UPM\" \/>\n<meta property=\"og:description\" content=\"HELSINKI: Finland-based forestry giant UPM (United Paper Mills) has reported a 20 percent decline in turnover and a 41 percent decline in profits in Q2 2020, year-on-year. UPM\u2019s profit reached 203 million euros (USD 235 million) in Q2, compared with 345 million euros in the corresponding period last year. The turnover of Q2 2020 was [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/decline-in-demand-for-print-papers-hits-forestry-giant-upm\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-25T00:02:19+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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UPM\u2019s profit reached 203 million euros (USD 235 million) in Q2, compared with 345 million euros in the corresponding period last year. 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