25 August 2005 – Melbourne (AUS): PaperlinX has posted its financial results for the year ending 30 June.
Net profit for the year, not including a one-off tax benefit, fell 16 per cent on the previous year to A$91.5 million ($69.5 million) due to substantially lower earnings contributed by the Australian paper industry.
The industry’s profitability has been reduced by lower selling prices in Australia due to the strength of the currency, lower domestic sales volume and higher logistics and production costs.
PaperlinX plans to spend A$258 million to upgrade its Maryvale pulping mill in Victoria. The company hopes to cut its pulp and labour costs and improve paper quality. The project should be completed in 2008.