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China Shengda Packaging Group Reportes Company's Revenues for The Third Quarter 2012

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Core Tip: Paper packaging company China Shengda Packaging Group has reported that the company's revenues for the third quarter ended 30 September 2012 dec

Paper packaging company China Shengda Packaging Group has reported that the company's revenues for the third quarter ended 30 September 2012 decreased 1.8% to $33m from $33.6m in the same period of 2011.

Sales volume during the quarter also declined by 3.2 million square meters, or 3.6% to 84.4 million square meters from 87.6 million square meters in 2011.

During the quarter, color cartons accounted for 31.3% of the revenues and flexo cartons accounted for 68.7% compared to 28.3% and 71.7%, respectively for the same period of 2011.

The company's gross profit for the quarter stood at $6m as in the same period of 2011. Gross profit from flexo cartons decreased 1.5% to $3.8m from $3.9m and for color cartons increased 7.4% to $2.1m from $2m in 2011.

Revenue for the first nine months stood at $98.2m, up by 5.4% from 2011 revenue of $93.2m and gross profit stood at $17.3m compared to $19.2m in 2011.

China Shengda Packaging chief executive officer Daliang Teng said owing to slack demand resulting from macroeconomic headwinds faced by its customers the third-quarter results were below the company's expectations.

"Although this led to a decline in both sales volume and revenues, we managed to control raw material costs, largely maintain pricing, and improve sales mix in favor of higher-margin color cartons," Teng said.

China Shengda Packaging is principally engaged in the design, manufacturing and sale of flexo-printed and color-printed corrugated paper cartons in a variety of sizes and strengths.

 
 
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