Net sales at Swedish supplier of innovative table-setting concepts and packaging solutions, Duni AB went up 8.67 per cent year over year for the three months to June 30, 2015.
Net sales for the second quarter of 2015 amounted to SEK 1,002 million, up 8.67 per cent from SEK 922 million in the prior year second quarter. Adjusted for exchange rate changes, net sales rose 4.2 per cent.Net sales at Swedish supplier of innovative table-setting concepts and packaging solutions, Duni AB went up 8.67 per cent year over year for the#
For the reporting quarter diluted earnings per share for continuing operations amounted to SEK 1.44 against SEK 1.40 in the comparable period of last year.
“Table Top reported earnings in the second quarter of 2015 were in parity with the same period in 2014 and other operating business areas too improved,” the company said in a press release.
“Organic growth during the quarter is lower as a disadvantageous calendar effect with an early Easter, together with a late and cold spring in central and northern Europe, led to weaker than expected demand,” it explained.
“A consequence of this is a lower leverage effect in terms of earnings within the supply of goods,” the company observed.
For the first six months of 2015, net sales surged 14.26 per cent to SEK 1,987 million as against SEK 1,739 million the same period of prior year and adjusted for exchange rate changes, net sales grew 8.5 per cent.
Diluted earnings per share from continuing operations for the six months to June 30, 2015 amounted to SEK 2.94 compared to SEK 2.39 in the first half of 2014.
Net debt as on June 30, 2015 was down at SEK 916 million as against SEK 1,164 million on June 30, 2014.
The company also announced its decision to invest SEK 110 million in upgrading two paper machines in Skåpafors for increasing capacity.
It also informed that hygiene production has now been completely closed and the previously announced production move from Dals Långed to Skåpafors is continuing according to plan.
“Although the weather was working against us, we experienced positive growth in most of our markets and our on-going projects continue to contribute to better profitability,” CEO Thomas Gustafsson said.
“Despite a late and cold spring, with an unfavourable calendar effect, quarterly earnings improved by SEK 11 million as compared with last year,” he observed. (AR)
ALCHEMPro News Desk – India
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