Winpak posts best-ever results
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Hey there, time traveller!
This article was published 16/02/2010 (5796 days ago), so information in it may no longer be current.
WINNIPEG — Plastic-packaging manufacturer Winpak Ltd. posted the best fourth quarter and the best annual results in its history in 2009, the company announced today.
The Winnipeg-based firm said it posted a fourth-quarter profit of $11.4 million, or 18 cents a share, which was an increase of 28.1 per cent from 2008’s final-quarter tally of $8.9 million, of 14 cents a share.
And the financial results for the entire year were even more impressive. The company rang up an annual profit of $42.9 million, or 66 cents a share, which was a 45.9 per cent improvement from last year’s net earnings total of $29.4 million, or 45 cents a share.
The company attributed the strong showing to a combination of improved gross profit margins, higher sales volumes, and reduced operating costs.
Winpak manufactures and distributes packaging materials and related packaging machines used primarily for the packaging of perishable foods and beverages and in health-care applications.
murray.mcneill@freepress.mb.ca