29th Apr 2014 12:43
LONDON (Alliance News) - Packaging and paper group Powerflute Oyj said Tuesday it has made a positive start to 2014, and it is confident in its outlook for the year, as it continues to develop its existing businesses and consider further strategic investments.
In an annual general meeting statement to shareholder, the group said that market conditions continued to be favourable during the first quarter and the Kuopio mill performed strongly.
It said that available capacity was fully utilised during the recently completed quarter, and prices achieved were ahead of last year.
Powerflute Oyj said the first of two planned maintenance stops was completed successfully during the period, and on an underlying basis production increased by approximately 5% on the prior year.
The group operates a paper mill in Kuopio, Finland, which produces a specialised form of semi-chemical fluting made from locally sourced birch.
Powerflute shares were down 0.7% at 38.50 pence per share Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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