The plasterboard and paper recycling giant, which is based in Bolton, announced in a half year report that European profits had increased slightly to 184.3 million and confirmed its market leadership in Europe.
But the report was somewhat downbeat on the UK situation, where it said paperboard profits had suffered from intensified price competition. “Higher energy costs, and increasing recycled paper costs in the second half, outweighed the benefit of further cost reduction which included an 8% fall in employee numbers,” it stated.
Commenting on BPB's worldwide performance, Richard Cousins, chief executive, said: “Real progress was made in a challenging and uncertain year, during which two matters stand out : first, the declining trend in profitability from the previous year was reversed and secondly the group established itself as a major player in the very large US market to complement the leadership position that BPB holds in Europe.”
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