Net sales for the first two quarters tallied €90.3 million. Operating profit was €5.1million. Profit before taxes was €2.0 million, and profit after taxes totaled €1.6 million.
Net sales receded compared to the corresponding period in 2008 and the first quarter of 2009. Compared to the first six months of 2008, the decrease was 18%.
The company’s results reflect the declining demand that now also affects daily consumer goods and the shift in consumption towards less expensive products, according to executives.
The Wiping Business Segment logged second quarter 2009 net sales of €57.9 million, a decrease of 20% from the same period in 2008.
Meanwhile, net sales of Codi Wipes were €31.8 million, a fall of 11% from the previous year. Net sales of Nonwovens fell 26% to €30.8 million. Delivery volumes of wiping materials dipped in Europe and the U.S.