Revenue in Q2 2016 was $295.8 million, compared to $279.3 million in Q2 2015, an increase of $16.5 million or 5.9%. The increase in revenue was primarily due to higher sales volumes, the favourable impact of foreign exchange on U.S. dollar sales, and a selling price increase in Canada. Net income in Q2 2016 was $12.0 million compared to $3.2 million in Q2 2015 primarily due to higher Adjusted EBITDA of $5.7 million, a pension revaluation related to past service cost of $3.4 million in Q2 2015, lower amortized cost of the Partnership unit liability of $1.9 million, and a decrease in interest expense of $1.6 million. These items were partially offset by an increase in depreciation expense of $2.7 million, a decrease in the unrealized foreign exchange gain of $0.6 million, and restructuring costs of $0.4 million.
Lecta announces a price increase of Thermal papers for new orders, effective January 28, 2020.
The increase will be around 8 to 10% in Thermal papers depending on country.
The price increase is unavoidable to offset the continuous increase in manufacturing and transport costs.
Lecta sales teams are at our customers’ disposal to provide specific information on how the price increase will be applied on a country by country basis.