SUOMINEN’S RESULT NEGATIVE DUE TO HIGH RAW MATERIAL COSTS
Suominen Corporation’s net sales for the first quarter totalled EUR 54.5 million (54.3). Operating profit was EUR –0.1 million (1.3), profit before taxes EUR –1.2 million (0.3) and profit after taxes EUR –0.9 million (0.2).
In the first quarter of 2008, prices for raw materials and especially for viscose continued to rise and were higher than in the first and last quarters of 2007. Increased raw material prices and the price reductions included in some long-term contracts lowered the result by EUR 1.5 million. The implementation of the cost-saving and operational enhancement programmes continued.