23948sdkhjf

Impressive quarterly performance by Stora Enso

Oct 29 2010  Stora Enso's profits nearly doubled year-on-year - the third quarter shows a strong improvement by the Finnish-Swedish forest industry giant.

Stopra Enso's net sales during the first nine months of the year amounted to 7,611 million Euros, compared with 6,546 million the same period last year. The operating result was 615 million Euros (-712), and the net result for the period was 456 million Euros (-924)."The third quarter was yet another proof point of Stora Enso in action, determined to build a business that creates value for our shareholders," said Jouko Karvinen, CEO of Stora Enso. "A very significant part of our earnings improvement again came through early cost reductions and active management of both pricing and customer mix.""Only this year we are permanently removing about 700,000 tons of paper capacity or four machines in Europe," Karvinen continued, describing thease measures as "a demonstration of our commitment to do what it takes to improve our cost position and productivity.""The recent quarters should also prove that our actions are starting to pay off," Jouko Karvinen said.

Kommentera en artikel
Utvalda artiklar

Nyhetsbrev

Sänd till en kollega

0.063