Business Services Industry
PaperlinX eyes price recovery.
Australasian Business Intelligence, August, 2006
Byline: Narelle Hooper
Aug 22, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Australian-listed paper maker, PaperlinX, has posted a 60.7 per cent drop in net profit to $A65.4 million for the year to June 2006. Volume dropped over the period, as did revenue, and operating profit declined by 15 per cent to $A152.4 million. The company's Australian Paper operation recorded a $A4.1 million loss in pre-interest and tax earnings. However, PaperlinX CEO, Tom Park, claims offshore price rises could potentially contribute to an improved outlook. The group's shares rose 7.4 per cent on 22 August, to end trade at $A3.32. ABN Amro has raised its price forecasts for the stock.
Publication Date: 23 August 2006
PAPERLINX LIMITED - ASX PPX...
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