Paper Products Group SCA Sees Operating Profit Rise 3% In FY 2016
Swedish paper products firm Svenska Cellulosa AB, which produces the Velvet and Cushelle brands among others, has posted a 3% rise in operating profit to SEK 11,279 million in full year 2016, according to accounts just filed.
The group’s net sales for the year were SEK 117,314 million, with organic sales, which exclude exchange rate effects, acquisitions and divestments, increasing by 2%.
The firm has commenced work on a proposal to its 2017 Annual General Meeting to decide on a split of the SCA Group into two listed companies: hygiene and forest products. It recently made a number of high-profile acquisitions to realise this goal, including medical solutions company BSN medical, and Wausau paper, a North American tissue firm.
“We have further developed our customer and consumer offerings, and launched 23 innovations during the year,” said Magnus Groth, CEO and President of SCA.
“Innovations were launched in consumer tissue under the Lotus, Plenty, Regio, Tempo and Zewa brands, among others; in feminine care under the Bodyform, Libresse and Nosotras brands, among others; in baby diapers under the Drypers and Libero brands; and in AfH tissue and incontinence products under the two globally leading brands Tork and TENA, respectively.
“We continued to increase the efficiency of the value chain and address underperforming market positions.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign-up for ESM: The European Supermarket Magazine.