If the size of the loss is to be considered, Tembec’s third quarter loss is much improved from results one year ago…
If the size of the loss is to be considered, Tembec’s third quarter loss is much improved from results one year ago. The company slashed its loss to $27 million from $164 million in the corresponding 2007 quarter, a feat largely attributable to a 14.5% decline in sales, a recent report by the Canadian Press confirmed.
Sales tumbled to $609 million, down substantially from $712, due to lower volumes in all four of the company’s operating segments: lumber, pulp, paper and chemicals, CP confirmed.
Lumber witnessed the biggest fall, with a 31.6% decline in sales. The company’s pulp division sales fell only 2.9%. Paper sales fell 12.5%, and chemicals were down 26.7%.
“Overall, the June quarterly operating results were an improvement over the previous quarter, but remained well below acceptable levels,” CP confirmed the company as saying.
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