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Packaging boost for SCA profits

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16:46 CEST+02:00
Swedish paper group Svenska Cellulosa (SCA) on Tuesday reported its second quarter net profit rose 18.9 percent to 1.57 billion kronor (171.12 million euros, 236 million dollars), boosted by stronger operating margins, with packaging operations showing sharply improved profitability.

Its sales increased 3.2 percent over the same period last year to 26.12 billion kronor, surpassing the expectations of analysts. Operating profit leapt 16 percent to 2.44 billion kronor.

SCA said the price and volume trend for most of its operations was favourable.

"This, together with the intensive efforts currently underway to strengthen our customer offering and develop an even better customer and product mix, resulted in revenue improvements that well exceeded the increased raw material costs", chief executive Jan Åström said.

"In my opinion, we will continue to see stable development during the autumn with good demand. At the same time, raw material costs will continue to rise," he said.

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