(Kingsey Falls) Cascades reports that its second-quarter operating profit doubled in a year, from $32 million in fiscal year 2022 to $64 million this year.
Meanwhile, net earnings per common share rose from $0.10 to $0.22.
On the other hand, adjusted earnings were 141 million, or $0.27 per adjusted share, compared to 91 million, or $0.10 per adjusted share in the second quarter of 2022.
Year over year, sales of the Quebec paper giant increased from 1.119 billion to 1.168 billion in the second quarter.
Cascades explains that the results for the most recent quarter, which ended on June 30, were driven by the tissue paper sector, which had its best performance since the second quarter of 2020.
Cascades’ Board of Directors has declared a quarterly dividend of $0.12 per common share payable on September 1.
Company named in this dispatch: Cascades (TSX: CAS)