Swedens Essity takes 1.4 billion SEK write-down in Russia as profit falls

div classBodysc17zpet90 cdBBJodivpSTOCKHOLM Reuters – Hygiene products group Essity said on Friday it had taken a writedown of 1.4 billion Swedish crowns 147.4 million on its assets in Russia, as it posted a drop in firstquarter earnings.p

pAdjusted EBITA at the worlds secondbiggest maker of consumer tissue fell to 2.83 billion crowns from 3.61 billion a year earlier.pdivdivdiv classBodysc17zpet90 cdBBJodiv

p“Furthermore, work has been initiated to exit the Russian market,” it said in a statement.p

p1 9.4957 Swedish crownsp

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pp Reporting by Helena Soderpalm editing by Niklas Pollardp

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