| Break-even for M-real |
By: Rebecca Hubbard
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Posted: Thursday, August 5, 2010 11:19 am
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M-real, the fibre paperboard producer and paper supplier, has not discounted price increases in the future if it is to recover fibre costs after, for the second quarter of the year, reporting zero pre-tax profits.
The lack of profit is actually an improvement for the company as it is an increase on the €97m loss for the same period last year. It is however a decline from the €25m made in the preceding quarter. Overall sales jumped by 16% for the three months to €676m.
Mikko Helander, chief executive, stated that prices had increased for its main products, and demand had continued to advance.
He said: "we will actively carry out price increases in the future to cover the higher fibre costs. The profit improvement measures in the paper business are progressing and we expect them to be completed as planned."
The Finland-based company produced an impressive total of 372,000 tonnes of consumer packaging in the three months to June. They have said that the strategic review of the paper part of the business is continuing.
"The structural change from a paper company to become more clearly a packaging material producer has proceeded according to plan," M-real said in today's statement. |
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