August 10, 2009 / 9:11 PM / 8 years ago

UPDATE 1-Fortress Paper posts lower Q2 profit

* Q2 EPS C$0.19 vs C$0.33 last year

* Sales rise marginally

Aug 10 (Reuters) - Fortress Paper Ltd (FTP.TO) reported a 43 percent drop in second-quarter profit as its specialty paper segment was hit by the global economic slowdown.

The producer of security and specialty papers posted net income of C$1.9 million ($1.8 million), or 19 Canadian cents per share, down from C$3.4 million, or 33 Canadian cents per share, a year ago.

Four analysts on average were expecting earnings of 26 Canadian cents per share, before items, according to Reuters Estimates.

    Sales rose 1 percent to C$49.6 million.

    Fortress Paper shares closed at C$7.35 Monday on the Toronto Stock Exchange.

    $1=1.089 Canadian dollar Reporting by R. Manikandan in Bangalore; Editing by Anne Pallivathuckal

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