Cascades Inc., involved with the recovery and the manufacturing of green packaging and tissue paper products, announces its financial results for the three months ended June 30, 2010.
Commenting on the second quarter results, Mr. Alain Lemaire, President and Chief Executive Officer stated: "As anticipated, we experienced a significant rebound in profitability compared to the previous quarter mostly as a result of the momentum in pricing and volumes in our different business units. All our segments delivered improved results as they benefited from selling price increases implemented during or prior to the second quarter. In addition, stronger demand combined with seasonal pick-up impacted positively our operational efficiency and financial results. In fact, during the quarter our overall operating rate reached 96%, the highest it's been in three years.
It is also important to note that these results were achieved despite the slow economic recovery as well as higher recycled fibre costs and Canadian dollar, up approximately 90% and 14% respectively compared to the same period last year."
