Cascades Inc. announces its unaudited financial results for the three-month period ended September 30, 2015. In comparison with the same period last year, sales increased by 13% to C$1,026 million ($772 million) due to a weaker Canadian dollar, higher shipments, mainly in the Tissue Papers and Containerboard groups, and higher average selling prices in the Containerboard Group.

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Cascades reports 13% sales increase in 3Q

Nov 20, 2015. /Lesprom Network/. Cascades Inc. announces its unaudited financial results for the three-month period ended September 30, 2015. In comparison with the same period last year, sales increased by 13% to C$1,026 million ($772 million) due to a weaker Canadian dollar, higher shipments, mainly in the Tissue Papers and Containerboard groups, and higher average selling prices in the Containerboard Group. These factors more than offset lower average selling prices in the Specialty Products Group.
Operating income, excluding specific items, increased from C$49 million ($36.8 million) in the 3Q 2014 to C$89 million ($70 million) in the 3Q 2015.

Net earnings, excluding specific items, amounted to C$49 million ($36.8 million) in the 3Q 2015 compared to C$4 million ($3 million) for the same period in 2014.

Including specific items, net earnings amounted to C$22 million ($16.5 million) in the 3Q 2015 compared to a net loss of C$16 million ($12 million) in the same period in 2014.

Mario Plourde, President and CEO, had the following comments on the most recent quarterly results: "We are pleased with the 3Q results, a result of the good performance of all our groups. Our OIBD of C$134 million ($100.8 million) is a quarterly record. The difficult portfolio rationalization measures and strategic initiatives undertaken over the last few years, combined with better productivity and cost reduction measures in the Tissue Papers Group, have enabled us to benefit more fully from favourable market conditions, particularly in Canada.”

Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.