Improving margins lift Lee & Man Paper’s first-half profit
Containerboard and pulp producer Lee & Man Paper Manufacturing Ltd. (2314.HK) on Monday said it expects to report a profit of HK$1.33 billion ($170 million) to HK$1.39 billion for the six months through June, up 64% to 71% from HK$811 million a year earlier.
The company attributed the sharp increase mainly to improving profit margins.
Lee & Man Paper primarily produces and sells containerboard, pulp and tissue paper. It operates production facilities in Guangdong, Jiangsu, Chongqing, Jiangxi and Guangxi in China, as well as overseas in Vietnam and Malaysia.
The company’s shares opened higher on Tuesday and were trading at HK$3.84 by the midday break, up 12.6%. The stock has gained about 37.1% since the start of the year.
By Lee Shih Ta
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