Lenzing Profits Dip

Lenzing says net profits in the first quarter of 2012 fell 27.6%, to €48.4 million ($63 million), compared with the same quarter of 2011. Ebitda and Ebit also decreased 19% and 25.9% year over year, to €93.1 million and €67.2 million, respectively. Lower earnings reflect weaker average fiber prices, Lenzing says. The company’s sales slipped by less than 1%, to €528.2...

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