Packaging manufacturer BillerudKorsnäs delivered a weaker first quarter than analysts expected. Net sales were 5.357 billion crowns, which was SEK 277 million lower compared with the corresponding period last year.
Operating profit was 658 million kronor, which was 40 million lower than the first quarter of 2015.
BillerudKorsnäs reports a profit before tax of SEK 620 million for the first quarter of this year, compared with SEK 645 million the corresponding period of 2015.
the lower sales and lower operating profit is due according BillerudKorsnäs on sales of the Baltic pellet operations Latgran in the third quarter last year.
However, the first quarter has been tough, with lower production than expected, due to last year rebuilding at several of its use. Looking ahead, however, it is better, according to CEO Per Lindberg.
Pulpwood prices are expected to remain unchanged in the second quarter of this year.
No comments:
Post a Comment