May 05, 2005. /Lesprom Network/. Grupo Empresarial Ence SA said it expects paper prices to continue improving in the second quarter from the first. In a statement, Ence said net profit rose to 66% to Euro 13.2 million in the first quarter to March 31 from a year earlier. The company said EBITDA increased 19% to 33.5 million Euro, while EBIT was up 47% at Euro 22.15 million. Revenue rose 26.2% to Euro 153 million. Debt stood at Euro 291.9 million at end March, up from the Euro 277.9 million reported at end December 2004, the company said. Ence expects a 'balanced situation' in the pulp market in the second quarter with strong demand 'usual for these particular months' offset by limited supply due to factory closure for maintenance from April to June. The effect of the dollar's depreciation against the Euroo has been reduced through Ence's exchange rate hedging, the company said.