Lee & Man reports positive results

Lee & Man reports positive results
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Hong Kong-based Lee & Man Paper Manufacturing Ltd. has reported a profitable first half of 2016 and says it is ramping up new production capacity in the tissue sector.

Lee & Man says it sold some 2.67 million short tons of paper products in the first half of 2016, earning revenue of $1.08 billion (€967 million). The company says its first half 2016 net profit of $184 million (€165 million) marked a 30.5% improvement in its earnings per share compared with the same period in 2015.

The company’s Chairman Dr. Raymond Lee says room for growth in papermaking in China and East Asia remains. “The demand for packaging paper in China is expected to grow steadily in the long run,” he stated in early August comments accompanying Lee & Man’s earnings. “Although paper consumption per capita in China has been increasing year after year, it is still way behind that of developed countries. Hence, it is obvious that the market still has plenty of room to develop in the future.”

Lee also expressed optimism that efforts to rein in excess paper and board capacity in China are beginning to take hold. “To address the overcapacity problem and environmental issues of the paper industry, the PRC (People’s Republic of China) government has stepped up ousting obsolete production capacities to gradually correct the excessive supply situation, and that has boosted the bargaining power of industry players,” he said, adding, Lee & Man “is confident about the outlook of the paper industry.”

While Lee & Man has traditionally been associated with packaging grades, the company continues to expand its presence in the tissue industry. Currently, Lee & Man has in full operation four tissue paper production lines that can produce 135,000 tons in Chongqing, China, with more tissue lines slated to start up production soon.

After all of its tissue production lines are in operation, Lee & Man says its annual production capacity for tissue paper will reach 575,000 short tons and the company “will be able to claim its place among the top five tissue paper manufacturers in mainland China.”

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Source: Recycling Today
Lee & Man reports positive results
<![CDATA[Hong Kong-based Lee & Man Paper Manufacturing Ltd. has reported a profitable first half of 2016 and says it is ramping up new production capacity in the tissue sector. Lee & Man says it sold some 2.67 million short tons of paper products in the first half of 2016, earning revenue of $1.08 billion (€967 million). The company says its first half 2016 net profit of $184 million (€165 million) marked a 30.5% improvement in its earnings per share compared with the same period in 2015. The company’s Chairman Dr. Raymond Lee says room for growth in papermaking in China and East Asia remains. “The demand for packaging paper in China is expected to grow steadily in the long run,” he stated in early August comments accompanying Lee & Man’s earnings. “Although paper consumption per capita in China has been increasing year after year, it is still way behind that of developed countries. Hence, it is obvious that the market still has plenty of room to develop in the future.” Lee also expressed optimism that efforts to rein in excess paper and board capacity in China are beginning to take hold. “To address the overcapacity problem and environmental issues of the…