Intertape posts marginal rise in Q1 EBITDA

15 May 2008 06:04  [Source: ICIS news]

SINGAPORE (ICIS news)--Canada’s Intertape Polymer Group has seen a marginal rise in its first-quarter earning before interest, tax, depreciation and amortisation (EBITDA) to $17m (€11.1m) from $16.4m year on year on increased prices which helped it offset higher raw material costs, it said on Thursday. 

The firm however, posted a net loss of over $1.9m as opposed to a deficit of $0.6m in the previous corresponding period due to a one-off refinancing cost, the developer and manufacturer of specialised polyolefin plastics added in a statement.

Intertape's focus on products with higher margins had allowed it to maintain its healthy performance despite the weakening economic conditions in the US, it said.

Going forward, Intertape intended to implement additional cost reduction techniques to achieve better margins.

($1= €0.65) 

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