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Don't have an account? Click here to register.Powerflute Oyj reports on stellar year
Tue, 08th Mar 2016 14:58
(ShareCast News) - Powerflute Oyj reported a stellar 2015 on Tuesday, with revenue and earnings growing significantly during the calendar year.The AIM-traded company saw group revenues rise 137.9% in its preliminary results, to €357.2m (£278m) from €150.1m. EBITDA, excluding non-recurring items was up 164.1% to €55.2m, from €20.9m.Powerflute's net debt reduced to €37.1m, from €61.5m, representing 0.7x EBITDA. Operating profit was €45.3m, up 204% from €14.9m, and underlying earnings per share increased to 9.6 euro cents from 3.8 cents.Including non-recurring items, EBITDA increased to €53.3m from €16.2m, operating profit improved to €43.3m from €10.1m, and the company's basic earnings per share were 9.1 euro cents, from 2.2 cents.Profit before tax was €37.3m, from €8.6m in 2014."2015 has been another very successful year for Powerflute," said Powerflute Oyj chairman Dermot Smurfit."The Corenso acquisition has been truly transformational, more than doubling the size and profitability of the group and significantly increasing its scale and global presence," he added.Smurfit said that, although the group benefited significantly from favourable market conditions and foreign exchange rates throughout the year, its executive management teams had also delivered improvement in underlying operating performace across the group.He said that, despite some recent softening in market conditions, both coreboard and cores, and packaging papers had satisfactory forward order books at price levels comparable to the prior year."In the absence of any marked change in the external environment, we currently expect that 2016 will be another successful year for the group," he concluded.Powerflute's board proposed a dividend increase of 100% to 3 euro cents per share, from 1.5 cents in 2014.Trading in the company's shares was choppy through the day, however, and at 1335 GMT it was down 0.15% at 83p.
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29 Apr 2014 12:43
Powerflute Oyj Makes Positive Start To Year; Confident In Outlook
LONDON (Alliance News) - Packaging and paper group Powerflute Oyj said Tuesday it has made a positive start to 2014, and it is confident in its outlook for the year, as it continues to develop its existing businesses and consider further strategic investments. In an annual general meeting s
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UK BROKER RATINGS: HSBC Cuts Antofagasta To Neutral And Target 13%
LONDON (Alliance News) - The following UK shares received analyst recommendations Tuesday morning:
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FTSE 100
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BERENBERG INITIATES CARNIVAL PLC WITH 'BUY' - TARGET 3,000 PENCE
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UBS RAISES ASTRAZENECA PRICE TARGET TO 4
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UK WINNERS & LOSERS: Babcock, Tullow Oil Lead Blue-Chip Fallers
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FTSE 100 - WINNERS
Old Mutual, up 0.5%. The group has agreed to sell Skandia Germany and S
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UK BROKER RATINGS: Liberum Cuts SSE To Hold From Buy
LONDON (Alliance News) - The following UK shares received analyst recommendations Thursday morning:
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FTSE 100
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UBS RAISES KINGFISHER PRICE TARGET TO 440 (420) PENCE - 'NEUTRAL'
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HSBC RAISES KINGFISHER PRICE TARGET TO
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Thursday broker round-up UPDATE
Aberdeen Asset Management: Credit Suisse reduces target price from 470p to 415p maintaining a neutral rating. Acta: Cantor Fitzgerald reinstates with a target price of 13p (prev.: 16p) and a buy recommendation. African Minerals: Jefferies cuts target price from 300p to 250p and retains a buy recom
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Deputy Chairman at Weir Group buys first stake
Weir Group's new Deputy Chairman, Charles Berry, has begun building his stake in the company just two weeks into his new role. Berry, who joined the company at the beginning of the month, purchased 2,000 shares at 2,384.93p each for a total of £47,699. On the same day Berry took up the role, the
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HMV Group, the struggling entertainment media seller, has confirmed that it is still pondering what to do with its live music business. HMV added that a number of parties have indicated an interest in acquiring the business. There has been press speculation recently about who might be interested in
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Nordic packaging and paper group Powerflute suffered from weakening demand and price pressure in certain markets as a result of the "increasingly challenging economic environment". Despite this, the firm expects the results for the full year to be slightly ahead of current expectations after operat
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Sector movers: Forestry and paper extends gains
The forestry and paper sector is the best performing sector on Tuesday afternoon led by packaging group Powerflute. Shares in the semi-chemical fluting and paper company rose after Finnish renewable fuel company Vapo agreed to acquire a 30% interest in the group's wood procurement venture with pape
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Powerflute Sees FY Results In Line With Market Views
LONDON (Dow Jones)--Powerflute Oyj (POW1V.HE), a packaging group with established positions in Nordic semi-chemical fluting and coated woodfree papers, said Wednesday results for the first half will be below those of the prior year but expects performance for the full year to represent an improvemen
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