Lee & Man benefits from transformation of Chinese paper industry, posts higher sales and profit

摘要

Hong Kong-based Chinese papermaker Lee & Man increased sales in the first half of 2018 by 43.1% to HKD16.37bn and net profit by 35.9% to HKD2.98bn. The manufacturer of container-board, white-lined chipboard and tissue reported stable business for the first half of the year with the focus on developing new paper grades and customised product offerings. The group also benefited from efforts in China over the past years to shut down obsolete production facilities. These efforts in turn fuelled consolidation in the Chinese paper and board industry, Lee & Mann added. Small and medium-sized enterprises which could not fulfil the new environmental standards were forced to shut down or were purchased.