The easing of measures imposed to fight the co-ronavirus enabled economic recovery in the third quarter and pushed up demand for woodfree un-coated paper, Portuguese papermaker The Navigator Company (TNC) states in its financial report. The company's machines have been working at full capacity again since early July and TNC increased deliveries by 45 per cent compared with the previous quarter. Sales jumped by 20 per cent in response, earnings and net profit by 134 and 132 per cent respectively. TNC's financial results for the third quarter as well as the first three quarters of 2020 failed to match the previous year's corresponding figures. Cumulative sales of €1.04bn for the first three quarters of 2020 fell 18 per cent short of the 2019 figure. Operating and net earnings for the period receded by half to €100m and €75m respectively.
展开▼
