Nordic paper maker Stora Enso swings to a loss in the fourth quarter

Forest products group Stora Enso Oyj swung to a loss in the fourth-quarter, stung by one-time charges, higher costs and a competitive market.

The net loss for the October through December period was euro50.8 million (US$73.8 million), compared with a profit of euro302 million a year earlier, the Finnish-Swedish paper maker said Wednesday. Revenue grew slightly to euro3.37 billion (US$4.9 billion), up from euro3.32 billion in the same period in 2006.

Chief Executive Jouko Karvinen described the quarter as "one of the most challenging in the recent history" of the company.

"The fourth quarter's profit deterioration, which was mainly …