Lee & Man Paper Manufacturing Limited announced its annual results for the year ended 31 December 2016. During the year, the Group recorded a total sales volume of 5.63 million tons, a total revenue of HK$18.34 billion ($2.4 billion), compared to HK$17.62 billion ($2.3 billion) in 2015.
Annual net profit increased by 22.7% year-on-year to HK$2.86 billion ($371 million), while its net profit per ton was HK$508 ($66).
Dr Raymond Lee, Chairman of Lee & Man Paper, said, “Despite the slowdown in the economic growth of the Mainland economy, the demand for packaging paper in China is expected to grow steadily in the long run. In addition, the rapid development of e-commerce and online shopping has led to fundamental changes in consumption and logistics models, benefitting the packaging paper industry which is currently undergoing consolidation. Looking ahead, overall paper consumption still possesses considerable room for growth, thus the Group is optimistic about the outlook of both the packaging paper segment and the paper industry as a whole.”
Lee & Man Paper Manufacturing Limited is one of the leading paper manufacturers in China, specialising in the production of a range of linerboard and corrugating medium used to produce cardboard boxes for packaging purposes.
