Cascades Inc. reports its unaudited financial results for the three-month period ended March 31, 2018. Sales of $1,098 million increased by $92 million, or 9% compared to the same period last year.
This was driven by a 22% increase in the containerboard division, reflecting the Greenpac consolidation and higher average realized sales prices during the period, and a 17% sales increase in the European boxboard segment following implemented price increases and the January 2018 acquisition of PAC Service.
1Q 2018 operating income stood at $112 million, a notable improvement from the $31 million generated last year.
Mr. Mario Plourde, President and, commented: "Our consolidated 1Q performance improved both year-over-year and sequentially in terms of sales levels, shipments and operating income. Changes in raw material prices were positive on a consolidated basis both sequentially and year-over-year, while higher transportation costs negatively impacted profitability in our North American operations.”
Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.
Source: Lesprom Network
