Bloomberg News

Portucel Nine-Month Net Falls 6.6% on Higher Operating Costs

October 20, 2011

Oct. 20 (Bloomberg) -- Portucel-Empresa Produtora de Pasta e Papel SA, Portugal’s biggest pulp-and-paper company, said net income fell 6.6 percent to 144.1 million euros ($198 million) in the first nine months of the year.

Costs for chemicals and timber rose, while revenue increased 9.2 percent to 1.1 billion euros, the Setubal-based company said today in a regulatory filing.

Third-quarter net income was 46.5 million euros. The year- earlier figure was 63.9 million euros, according to data compiled by Bloomberg.

--Editor: Jim Silver

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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