Posted August 17, 2016
Cascades Inc. announced its unaudited financial results for the three-month period ended June 30, 2016. 2Q 2016 sales increased by 5% to $998 million compared to the same period last year, reflecting higher average selling prices combined with the positive financial impact of the lower Canadian dollar.
Operating income, excluding specific items, increased from $59 million in the 2Q 2015 to $65 million in the 2Q 2016. This improvement is attributable to the above-mentioned factors and favorable energy costs.
Mario Plourde, President and CEO, commented on the 2Q results: "We are pleased with the overall performance of our operations during the 2Q. Results in North America were in line with expectations, and highlight how our strategic investment in new equipment over the last few years is translating into improved efficiency, and a greater operational capacity to adapt to changing market dynamics.”
Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.