Sales growth but net loss for Arctic Paper
May 13, 2011 Arctic Paper generated revenues of over 634.63 million Polish Zloty in the first quarter of 2011, 32.4 percent higher than in the same period last year. The company recorded a net loss of 8.46 million Zlotys.
Arctic Paper, the second-largest European producer of bulky book paper and one of Europe’s leading producers of high-quality graphic paper, reports a net result of -8.46 million Zlotys in the first quarter of 2011 (0.67 million). The net loss was partly caused by higher amortization resulting from revaluation of assets acquired from Grycksbo.Arctic Paper achieved an increase in sales volume by almost 20 percent, compared to the corresponding period 2010, and by 5.7 percent compared to fourth quarter of 2010.
