Currency Exchange Limits Huhtamaki

In the first four months of 1995, net sales achieved by the Finnish company Huhtamaki amounted to 2.6 billion Finnish markka ($570 million), down 5.5% on the previous year. When taken at constant exchange rates, net sales advanced 8%. Operating profits were 127 million markka, compared with 163 million markka a year earlier, and net profits were 80 million markka, down 28.6% from 112 million markka in the first four months of 1994.

The company indicated that, allowing for currency exchange fluctuations, the interim performance was as expected.

For Leiras, the group's pharmaceuticals business, the strong Finnish currency had a negative impact on export revenues overall. Net sales fell 11% to 275 million markka, and profits also declined. However, the company notes that it expected a higher exports volume to improve performance over the remainder of the year.