Greif, Inc. announced 2Q 2016 results. Net sales of $839.6 million for the 2Q 2016 compared to 2Q 2015 net sales of $915.9 million.
Net income for the 2Q 2016 attributable to the corporation that totaled $31.4 million, compared with net income of $20.8 million for the 2Q 2015.
Gross profit of $173.7 million for the 2Q 2016 compared to $181.1 million for the 2Q 2015. Gross profit margin improved to 20.7% for the 2Q 2016 from 19.8% for the same period in 2015.
Pete Watson, President and CEO, stated: “We are pleased to report another improved quarter at Greif.Our margins expanded compared to the previous year as we continue to implement fundamental operating improvements across the portfolio. Performance was particularly strong in our Rigid Industrial Packaging & Services business, which helped to offset challenging market conditions impacting our Paper Packaging & Services business. I am confident that Greif is headed in the right direction and we remain focused on creating value for both our customers and shareholders.”
Greif is a world leader in industrial packaging products and services. Greif also manages timber properties in North America.