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Article: Paper maker Frantschach Swiecie sees 1% Q1 profit growth as world paper prices drop.
- Article from:
- Poland Business News
- Article date:
- April 20, 2004
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Paper maker Frantschach Swiecie sees 1% Q1 profit growth as world paper prices drop
Warsaw. April 20. INTERFAX-EUROPE - Polish pulp and paper maker Frantschach Swiecie, a unit of Mondi Europe, part of South African conglomerate Anglo American, saw quarter-on-quarter net profit rise a mere 0.9% in the January-March 2004 period, as declines in worldwide paper prices pushed revenue into decline.
The company's 2004 first-quarter net profit came in at PLN 39.2 mln from PLN 38.9 mln in the same period of last year, and revenue dropped 0.1% from the first quarter of 2003, a report out Tuesday after the bell showed.
Paper prices were down some 10% (in ...