Chile's Copec 2007 profit up 6.9%
Feb 28, 2008. /Lesprom.com/. Chile's biggest industrial conglomerate Copec announced net profit rose 6.9% in 2007 from the prior year on higher world prices for wood pulp and increased output.
Feb 28, 2008. /Lesprom.com/. Chile's biggest industrial conglomerate Copec announced net profit rose 6.9% in 2007 from the prior year on higher world prices for wood pulp and increased output, Reuters informed.
Copec COP.SN, Chile's largest wood pulp producer, saw profit climb to 502.95 billion pesos ($1.01 billion) in 2007, up from 470.321 billion pesos ($0.9 billion) in 2006.
Sales for the company rose 29% in 2007 from the previous year. Most of Copec's revenue comes from oil and gas stations, accounting for about two-thirds of sales. However, most of its profits come from its forestry unit, mainly through wood pulp.
Chile is the world's fifth exporter of wood pulp.