Market: Packaging Paper & Board
18 May, 23:41
Supremex Inc. announced its results for the 1Q ended March 31, 2017. Revenue for the three-month period ended March 31, 2017, increased by 9.4%, or $3.9 million to $45.2 million compared with $41.3 million during the three-month period ended March 31, 2016, primarily from the contribution of the fiscal 2016 acquisitions as part of the Company’s stated diversification strategy.
EBITDA stood at $6.9 million for the 1Q 2017, compared with $7.1 million for the same period in 2016, a decrease of $0.2 million, or 3%. EBITDA margins stood at 15.3% compared to 17.3% during the 1Q of last year.
Net earnings increased by 26.4%, to $4.1 million (or $0.14 per share) for the three-month period ended March 31, 2017, compared to $3.2 million (or $0.11 per share) for the same period in 2016, primarily due to lower amortization expenses which were $1.2 million compared with $2.4 million in the comparable period of last year.
“Our revenues were up almost 10% in the quarter with the largest growth area coming from packaging and specialty products, followed by revenues from the US envelope market. I am pleased that our strategy to diversify the business continues to progress,” said Stewart Emerson, President & CEO of Supremex.
Supremex Inc. is a leading North American manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products.