Portucel Nine-Month Net Falls 6.6% on Higher Operating Costs

Portucel-Empresa Produtora de Pasta e Papel SA (PTI), Portugal’s biggest pulp-and-paper company, said net income fell 6.6 percent to 144.1 million euros ($198 million) in the first nine months of the year.

Costs for chemicals and timber rose, while revenue increased 9.2 percent to 1.1 billion euros, the Setubal-based company said today in a regulatory filing.

Third-quarter net income was 46.5 million euros. The year- earlier figure was 63.9 million euros, according to data compiled by Bloomberg.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.