IPL hit by unsteady recovery

Canadian plastics pails manufacturer IPL has announced second quarter net earnings of C$212,000 compared to C$544,000 a year ago. Over the same period sales fell 15.5 per cent from C$46.3m to C$39.1m. “As anticipated, operating performance suffered from the unsteadiness of the recovery in some market segments, notably Bulk Packaging and the Environment,” says president and CEO Serge Bragdon. “A stronger Canadian dollar and a normal time lag in adjustments of selling prices also had a negative effect on profitability. These factors were partly offset by a more advantageous sales mix in the packaging products segment, as well as by the positive effects of a sustained improvement in operational efficiency and tight controls of operating expenses.”

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