Eupen, Belgium – Hexpol has posted a marginal increase in its operating profit in the first quarter of 2016, with the figure rising to SEK497 million (€53.57 million) from SEK495 million in the same period in 2015.
Despite volume growth, sales dropped to SEK2.75 billion, against last year’s SEK2.95 billion over the same three-month period.
Revenues were negatively affected by “considerably lower sales prices due to considerably lower raw material prices”, explained president and CEO Georg Brunstam.
Prices on principal raw materials had been lower than in the fourth quarter 2015, said Brustam.
“Price pressure was continued strong during the quarter on all markets,” he went on to say.