Swedish paper group SCA in record profit leap
Published: 24 Jan 2013 16:30 GMT+01:00
Updated: 24 Jan 2013 16:30 GMT+01:00
SCA reported 2012 net profit of 4.956 billion kronor ($760 million), up from 551 million kronor in 2011 owing to the sale of its packaging unit to the British group DS Smith for 1.6 billion euros.
SCA's 2012 sales gained 5 percent when calculated with a constant exchange rate, to 85.408 billion kronor.
Meanwhile, the Swedish company has acquired European activities from US group Georgia-Pacific that include the Lotus handkerchief brand.
That deal underpinned "our competitive strength in the European tissue market and complements our market positions," SCA president and chief executive Jan Johansson said in a statement.
SCA will focus now on increasing its presence in Asia, via the acquisition of Everbeauty, a Taiwanese company that sells hygiene products in China, Taiwan and Southeast Asia, the statement said.