MEPCO’s Q3 performance backed by higher prices, volumes: CEO

29/10/2017 Argaam

 

Middle East Paper Co’s (MEPCO) strong performance in Q3 2017 was driven by higher average selling prices and volumes, along with a decline in financing costs, CEO Sami Ali Al Safran told Argaam in an exclusive interview on Sunday. 
 
The company’s net profit surged to SAR 22.2 million in Q3 compared to SAR 2.8 million a year earlier. Average selling prices jumped by 13 percent YoY in the same period.


“MEPCO, however, takes no provisions against volatility in paper prices,” Al Safran said. 

He added that the company’s anti-dumping complaint against Spain, Italy and Poland is being probed following the GCC’s technical secretariat combat harmful practices in international trade’s decision to investigate the complaint.

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