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Tue, 16th Aug 2016 14:27
(ShareCast News) - Powerflute Oyj announces its unaudited interim results for the six-month period to 30 June on Tuesday, with revenues excluding non-recurring items decreasing to €176.1m from €179.7m a year ago.The AIM-traded firm said EBITDA from operating activities was €26.5m on the same basis, in line with the comparative period.Inclusive of non-recurring items, EBITDA from operating activities grew to €26.5m from €24m, and operating profit increased to €21.6m from €21.1m.Profit before tax was up to €18.5m, compared with €18.2m, and earnings per share increased to 4.5 euro cents from 4.3 cents.Net debt did widen, however, to €42.9m from €37.1m at 31 December 2015.The company's board added that the refinancing of €120m borrowing facilities agreed in July 2016 will result in a "significant reduction" in net interest expenses."I am pleased to report that the group has continued to perform well during the first half of the year," said Powerflute chairman Dermot Smurfit."The integration of the Corenso businesses acquired in December 2014 is now substantially complete and our Coreboard and Cores division has delivered an increase in profits compared with the prior year as the benefits of operational initiatives launched in 2015 are now being realised."In Packaging Papers, a decision to implement the planned annual maintenance shutdown during the first half of the year together with more challenging market conditions resulted in profits below the record performance achieved in 2015.," Smurfit explained.He said markets are expected to remain competitive throughout the second half of the year."Despite this, we expect to make further progress with operational improvement initiatives in both Coreboard and Cores and Packaging Papers and expect that the group will continue to perform well for the remainder of the year."
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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
Read more29 Apr 2014 09:15
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
27 Mar 2014 13:01
UK WINNERS & LOSERS: Babcock, Tullow Oil Lead Blue-Chip Fallers
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
Old Mutual, up 0.5%. The group has agreed to sell Skandia Germany and S
27 Mar 2014 10:11
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
27 Mar 2014 09:02
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
Read more13 May 2013 16:27
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
Read more15 Mar 2012 12:06
Small caps round-up: HMV, Corero, ANGLE ...
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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Powerflute suffers from weaking demand
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
Read more4 May 2011 16:02
Powerflute poised for much better year
Nordic packaging and paper group Powerflute is free of debt after the disposal this week of its Scheufelen graphic papers business for €38.5m. After banking the proceeds from its €18.3m rights issue back in November 2010 the company saw net debt reduce to €29.1m at the end of 2010 from €52.1m a yea
Read more4 Feb 2011 11:31
Small caps round-up: Aminex, Helesi, Powerflute...
Aminex has proposed to up its interest in the Nyuni Production sharing agreement in Tanzania from 50% to 65% through a farm-in agreement with Key Petroleum. "A further acquisition of interest in the Nyuni PSA is a logical expansion of our activities and confirms our strong commitment not only to
Read more21 Dec 2010 15:17
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
Read more28 Jul 2010 07:39
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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