Lee & Man Paper Manufacturing Limited announced its interim results for the six months ended 30 June 2017. During the period under review, the Group recorded a total sales volume of 2.77 million tons and a total revenue of HK$11.44 billion ($1.5 billion), compared to HK$8.37 billion ($1 billion) in the 1H 2016.
Interim net profit increased significantly by 53.4% to HK$2.19 billion ($281 million) as compared to the last corresponding period, while its net profit per ton was HK$792 ($101.5).
Dr Raymond Lee, Chairman of Lee & Man Paper, said, “Despite the slowdown in economic growth in China, local demand for packaging paper is expected to grow steadily in the long run. In addition, the rapid development of e-commerce and online shopping has led to fundamental changes in the consumption and logistics models, benefitting the packaging paper industry which is currently undergoing consolidation. Looking ahead, overall paper consumption still possesses considerable room for growth, thus the Group is optimistic about the outlook of both the packaging paper segment and the paper industry as a whole.”
Lee & Man Paper Manufacturing Limited is one of the leading paper manufacturers in China, specialising in the production of a range of linerboard and corrugating medium used to produce cardboard boxes for packaging purposes.
