Lee & Man Paper Manufacturing Limited announced its interim results for the six months ended 30 June 2018. During the period under review, the Group recorded a total sales volume of 2.95 million tons and a total revenue of HK$16.37 billion ($2 billion), compared to HK$11.44 billion ($1.5 billion) in the 1H 2017.
Interim net profit increased significantly by 35.9% to HK$2.98 billion ($380 million) as compared to the last corresponding period, while its net profit per ton was HK$1,009.
Dr Raymond Lee, Chairman of Lee & Man Paper, said, “The Mainland government has carried out a supply-side reform and tightened the environmental protection policy in recent years, enabling further regulation and consolidation in the paper manufacturing industry. Meanwhile, with the gradual pick-up in the demand for paper products, and the improved demand and supply situation, the Group is expected to be able to benefit from the product price hike. Given this favourable industry environment, it is believed that the Group will be able to further solidify its leading position in the paper manufacturing industry by dint of its robust technology advantage.”
Lee & Man Paper Manufacturing Limited is one of the leading paper manufacturers in China. The Group specialises in the production of a range of linerboard, corrugating medium and coated duplex board used to produce cardboard boxes for packaging purposes.
