August 3, 2010 / 9:22 PM / 7 years ago

UPDATE 1-Mercer posts Q2 profit on better pulp prices

* Q2 EPS 0.23 euros vs 0. 32 euros loss, year ago

* Q2 pulp rev up 55 pct to 228.3 mln euros

Aug 3 (Reuters) - Canadian pulp maker Mercer International Inc MRIu.TO MERC.O posted a quarterly profit, helped by stronger pulp prices.

The company, which posted energy revenues of 11.9 million euros ($15.68 million) in the second quarter, a sliver up from 11.4 million euros, a year ago, said it expected energy sales to continue to increase at all mills and particularly at Celgar mill.

However, for the third quarter, the company said it expects a negative impact of about 6 million euros from turbine downtime at its Rosenthal mill.

For the quarter ended June 30, the company posted net income attributable to common shareholders of 12.4 million euros or 23 euro cents a share, compared with net loss of 11.5 million euros or 32 euro cents, a year ago.

Pulp revenue for the quarter rose 55 percent to 228.3 million euros.

Shares of the company closed at C$5.31 Tuesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Vyas Mohan)

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