Canadian Packaging, Hygiene Products Maker Posts Improved Q2 Results
Print this Article | Send to Colleague
Canada’s Cascades, a company specialised in sustainable recycling, hygiene and packaging solutions, has reported sales of some US$1.119 billion for the second quarter of this year, an increase of about 17.5 percent compared with the same quarter a year earlier.
Mario Plourde, the company’s president and CEO, commented in a statement that its “packaging businesses delivered good sequential performances in the second quarter, with improved pricing and sales mix, higher volumes, and lower raw material costs in the case of Containerboard outweighing the impact of continued cost inflation. Sequentially, results in our Tissue Papers business highlight the momentum being generated by the profitability initiatives underway.”
“While pricing and mix improvements realized to date helped to mitigate the unprecedented headwinds on the cost side, these initiatives are trailing the pace of the current high inflation environment. These initiatives remain on track to generate important contributions in the back half of 2022, and are being closely monitored and regularly adapted to address the changing cost environment,” he said.
