Gross profit of $151.3 million compared to $153.9 million in the 1Q 2015. Gross profit margin improved to 19.6% for the 1Q 2016 from 17.1% for the same period in 2015.
Pete Watson, President and CEO, stated “We are pleased to report improved 1Q results. Our gross profit margin expanded significantly versus a year ago led by our Rigid Industrial Packaging business, despite challenging market conditions impacting our Paper Packaging business. While we have much more to accomplish, we are confident in our strategy to create value for both our customers and shareholders.”
Greif, Inc. is a world leader in industrial packaging products and services.