Paperlinx $57.3m Loss 1H2013

Submitted by Share Trading on 27 February, 2013 - 08:31

Packaging and stationery manufacturing company, Paperlinx (ASX:PPX) have announced its financial performance for the first half of FY 2013 to its shareholders and investors on the Australian stockmarket.

  • Paperlinx posted a $57.3 million loss, an improvement of 6 percent from a loss of $60.9 million in the previous corresponding period. The result includes an impairment charge of $24.7 million.
  • Paperlinx revenue down 33 percent to $1.46 billion.
  • Paperlinx Chief executive Dave Allen said, "Canada and ANZA (Australia, New Zealand and Asia) continue to be our strongest performers and we will take the learnings from these regions regarding a single brand to market to Europe and the UK. Combined with the significant restructuring well underway in Europe and the UK, and the investment for growth in Packaging and Sign and Display across all regions, this positions Paperlinx for a turnaround in financial performance."
  • Paperlinx restructuring costs for the first half were $6.4 million and were largely for its European business in the UK and some smaller parts of the business in Denmark and Spain.
  • No dividend will be paid by Paperlinx.

Recommended Websites