Lee & Man Paper Manufacturing Limited announced its annual results for the year ended 31 December 2017, reporting total revenue of HK$25.84 billion ($3.3 billion), compared to HK$18.34 billion ($2.3 billion) in 2016. Annual net profit increased by 76% year-on-year to HK$5.04 billion ($642 million) and net profit per ton was HK$913 ($116), as the company said in the press release received by Lesprom Network.
Edmond Lee, CEO of Lee & Man Paper, concluded, “Adhering to its long-held prudent strategies and with debts maintained at a reasonable level, the Group will monitor the pace of economic development in China and Southeast Asia, while continuing to bolster production capacity for packaging and tissue paper, as well as strengthen its presence in Vietnam. The management will also proceed with plans to enhance production efficiency, strictly control costs and strengthen capital operation so as to maintain its competitiveness in the paper industry. Furthermore, our experienced and capable management team will continue to lead development of the Group’s businesses and strive its utmost to raise its profitability.”
Lee & Man Paper Manufacturing Limited is one of the leading paper manufacturers in China, specializing in the production of a range of linerboard and corrugating medium used to produce cardboard boxes for packaging purposes.
