TSX:WPK - Post Discussion
Post by
zack50 on Mar 04, 2021 11:03pm
WPK... 4th Quarter Results
| Winpak Fourth-Quarter Profit Rises 2% Despite Weaker Sales |
| 11:26 AM EST, 03/04/2021 (MT Newswires) -- Winpak Ltd (WPK.TO) on Thursday said its fourth-quarter profit rose 2% even as sales weakened. The packaging company said it earned C$C$28.08 million, or C$0.42 per share, in the period, up from C$27.52 million, or C$0.41, in the final quarter of 2019. Sales dropped 2.5% to C$212.09 million. Winpak said it estimated that Covid-19 measures cut its fourth-quarter sales by 0.5% to 1.5%, though volumes were higher, particularly for its flexible packaging operations, which had a 4% increase. Still, the company expects a positive year as the pandemic slowly ends and demand improves. "Winpak is cautiously optimistic regarding overall sales volume growth despite the negative headwinds that may affect certain product groups due to the pandemic," it said in a release |
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