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Bong’s 3Q net sales decreased by 13 per cent

Photo: Bong
Photo: Bong
Published by
Simon Matthis - 29 Nov 2016

Bong’s consolidated sales for January – September 2016 reached SEK 1,556 million ($168 million). Exchange rate fluctuations had a negative impact on sales of SEK -39 million ($4.2 million) compared with 2015. The main reason for the drop in sales is the continued downturn in the envelope market, which resulted in both lower volumes and pricing pressures which had a negative impact on Bong’s gross earnings.

Despite lower sales, operating profit equaled last year SEK -6 million($649,139), due to the new lower cost structure after the restructuring programs.

3Q 2016 net sales decreased by 13% to SEK 489 million ($53 million), compared to SEK 560 million ($60.6 million) in 3Q 2015. Exchange rate fluctuations had a negative impact on sales of SEK -10 million ($1 million) compared with 2015.

3Q operating profit decreased to SEK -10 million ($1 million).

Bong is one of the leading providers of specialty packaging and envelope products in Europe and offers.

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