Irani has higher sales, profits in third quarter
SAO PAULO, Nov. 6, 2018 (PPI Latin America) -Brazilian paper and packaging producer Celulose Irani had higher financial results in third quarter 2018, according to the company’s latest report. Net revenues increased 10.6% to Real 248 million ($66.9 million) over July-September 2017, while adjusted EBITDA climbed 30.3% to Real 52.4 million year-over-year.
Irani commented that the higher revenue was supported by better sales volumes and prices for both packaging papers and corrugated board, especially when compared to the second quarter of this year. The company reported that its corrugated board prices increased 7.2% year-over-year, while kraft paper prices were 14.2% higher.