Dutch Crown van Gelder expects net profit increase H1 2005

May 04, 2005. /Lesprom Network/. Dutch paper maker Crown Van Gelder NV (CVG) expects, based on the first four months of 2005, that the net profit for the first half of 2005, under the new financial reporting standards (IFRS), will increase compared to the net profit of 4.0 million euro ($5.1 million) in the first half of 2004, under IFRS, the company said According to the company, it was too early for a forecast to be made for the whole of 2005. The conditions on the markets, where CVG operates, were relatively weak in the first months of 2005, which resulted in a lower market growth, while the overcapacity led to a strong competition, the company said. In the first 16 weeks of 2005, the order inflow in the sector wood-free uncoated paper in the European paper industry remained unchanged from the same period of 2004. CVG sales increased by 11% year-on-year in the first four months of 2005 while the production rose by 6.0%. CVG expects that production and sales will stand at between 195,000 and 200,000 tonnes in 2005.