The Mayr-Melnhof Group’s consolidated sales went up by 6.8%, or Euro 72.6 million to Euro 1,142.2 million (1H 2015: Euro 1,069.6 million) in 1H 2016. This increase results primarily from the acquisition-related higher business volume at MM Packaging, as the company says in the press release received by Lesprom Network.
Operating profit grew by 14.8%, or Euro 14.3 million to Euro 110.8 million (1H 2015: Euro 96.5 million). A significant rise at MM Packaging was offset by a slight decrease at MM Karton. The Group's operating margin climbed to 9.7 % (1H 2015: 9%).
Profit before tax rose by 19.9% to Euro 108.9 million (1H 2015: Euro 90.8 million). Income tax expense totaled Euro 28.5 million following Euro 23.6 million in the first half of the previous year, resulting in an effective Group tax rate of 26.2% (1H 2015: 26%).
Profit for the period thus increased by 19.6% to Euro 80.4 million (1H 2015: Euro 67.2 million).
The Mayr-Melnhof Group is the world-leader in coated recycled cartonboard with a growing position in virgin fiber based board and Europe’s leading manufacturer of folding cartons with a growing presence outside of Europe. The Group’s operations are entirely concentrated on the core business areas which are managed in two operative segments MM-Karton and MM-Packaging.
