Greif, Inc. announced 1Q 2016 results. Sales of $771.4 million compared to 1Q 2015 sales of $902.3 million. After adjusting for the effect of divestitures for both quarters and currency translation for the 1Q 20163, sales were 3.2% lower than sales for the 1Q 2015.

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Greif reports 1Q sales of $771.4 million

Mar 16, 2016. /Lesprom Network/. Greif, Inc. announced 1Q 2016 results. Sales of $771.4 million compared to 1Q 2015 sales of $902.3 million. After adjusting for the effect of divestitures for both quarters and currency translation for the 1Q 20163, sales were 3.2% lower than sales for the 1Q 2015, as the company said in the press release received by Lesprom Network.

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.