Nov 16, 2005. /Lesprom Network/. Portuguese paper distributor Inapa-Investimentos, Participacoes e Gestao SA registered a net profit of Euro 1.678 million for January-September 2005, down 37.7% year-on-year, the company announced. However, Inapa's sales grew by 2.51% in terms of value to Euro 804.9 million in the period. Sales went up by 5.5% also in terms of volumes. The said increase in sales, mainly in terms of volumes, reflected a 2.8% fall in the paper prices in January to September 2005. Operating profit, in turn, fell 17.39% to Euro 17.3 million, while operating costs remained almost unchanged at Euro 123.2 million, slightly up compared to Euro 122.8 million. EBITDA margin stood at Euro 22.5 million, down from Euro 26.1 million.