October 28, 2009 / 9:47 PM / 8 years ago

UPDATE 1-Canada's Mercer International Q3 loss narrows

* Q3 loss narrows on better pulp prices, demand from China

* Revenue falls 15 pct

* Remains optimistic on short-term pulp prices

Oct 28 (Reuters) - Canada’s Mercer International Inc MRIu.TO (MERC.O) posted a narrower third-quarter loss, aided by strengthening pulp prices and strong demand from China, and said it remains optimistic on the short-term outlook for pulp prices.

The company posted a net loss attributable to common shareholders of 14.1 million euros, or 39 euro cents a share, compared with a net loss of 17.2 million euros, or 47 euro cents a share, in the year-ago quarter.

Total revenue fell 15 percent to 156.2 million euros.

The company said its pulp revenue fell 18 percent to 145.9 million euros due to 30 days of scheduled maintenance shutdowns at its German mills.

“In general, we are optimistic on the short-term outlook for pulp prices and believe that the sustainability of restarts and other high cost producers is possible only in a sustained higher pulp price environment,” Chief Executive Jimmy Lee said in a statement.

Shares of the company closed at C$1.85 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below