The company posted a €2.1bn (A$3.32bn) turnover for the fourth quarter of 2009, compared with €2.3bn for the same period a year earlier.

Pre-tax profit for the last quarter was €311m (A$491m), up considerably from a loss of €360m the same time a year earlier.

In its forecast for 2010, the company said it expects recovery in its main markets to be slow.

“Demand for consumer goods is forecast to improve, but advertising expenditure in print media and demand for graphic papers is expected to improve with some delay,” said UPM.

Read the original article at www.printweek.com.

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