•Overall revenues increased by $2.5 million, or 6.6%, to $39.7 million for the second quarter of 2015 from $37.2 million for the same period of last year. The increase in revenues was mainly driven by increase in sales volumes and partially offset by decrease in average selling prices for both paper cartons and corrugating medium paper. Average selling price for flexo paper cartons was particularly weak during the second quarter of 2015. •Gross profit decreased by $1.2 million, or 17.9%, to $5.3 million for the second quarter of 2015 from $6.5 million for the same period of last year. Gross margin decreased by 4 points to 13.4% for the second quarter of 2015 from 17.4% for the same period of last year. •Operating loss was $0.05 million for the second quarter of 2015, compared to net income of $1.7 million for the same period of last year.
The sudden and continuing sharp rise in input costs, particularly pulp and latex, make corrective pricing measures inevitable. Therefore Sappi Europe announces prices increases for all Packaging and Specialty Papers with effect as of June 1st, 2017.
The increase will be in the range of 5 – 8% and will affect all Coated and Uncoated Grades for Flexible Packaging, Siliconising Base Papers, Label Papers and Topliner. The price rise will apply to all European and Overseas markets.
The final implementation will be discussed short term on an individual basis with customers in all countries, respecting existing agreements.