More than double net profit of Kaveh Paper Making Company
The presence of Iranian Companies in China International Import Expo 2020
June 1, 2020
Investigating the challenges of the carton industry with the presence of the Deputy Minister of Industry
June 16, 2020More than double net profit of Kaveh Paper Making Company
With the departure of Kaveh Paper Making Company from losses after 4 years, the net profit of this affiliated company to Shasta increased by more than double and reached over 884 million Tomans in the fiscal year of 2019.
According to Burs News, Amir Saman Esfandiari, the CEO of Kaveh Paper Making Company, announced this news at the company’s annual general assembly that as per the financial statement of 2019, the sales of the company increase at 106 billion and 330 million Toman with 53% profit, which led to an increase in the company’s gross profit to more than 6 billion and 230 million Toman showing an increase of 229 percent compared to the previous fiscal year.
He continued, “Kaveh Paper Making Company has been able to increase its operating profit to more than 668 million Tomans with 107% increase in the sales of its products, and while covering the losses of last year, its net profit was more than double and reached to over 884 million Tomans which is unique achievement for the company in the last 4 years.
Esfandiari continued, “For the first time in the last 4 years, we have managed to bring the company out of losses and to have operational profit and net profit. Moreover, after 7 years, we managed to get an acceptable report from an independent auditor, which is very important.”
According to the report, the increase in production by 25,376 tons, the rise in the variety of products by producing different kinds of papers with less grammage, 57% improvement in the production of three products of brown paper, fluting paper and test liner paper, focusing on the production of the test liner paper having higher margin, and efforts to increase the share of product exports due to the recession in the domestic market were the most important measures and achievements of Kaveh Paper last year.
Planning to reduce energy consumption by 10%, trying to produce optimally and achieve good output, maintaining the 4.2% share of the domestic market, increasing the company’s share of export sales by 20% of production capacity, attracting capitals for new investment at least with the level of 200 billion Rials in the direction of renovation and reconstruction of the pulp line and the renovation of line one were announced as the most important programs of Kaveh Paper Company this year.
It is worth noting that the general assembly was held online through the company’s website and Tapico on which the shareholders could share and view due to the conditions of the corona virus outbreak and according to the instructions of the Securities and Exchange Organization.
He continued, “Kaveh Paper Making Company has been able to increase its operating profit to more than 668 million Tomans with 107% increase in the sales of its products, and while covering the losses of last year, its net profit was more than double and reached to over 884 million Tomans which is unique achievement for the company in the last 4 years.
Esfandiari continued, “For the first time in the last 4 years, we have managed to bring the company out of losses and to have operational profit and net profit. Moreover, after 7 years, we managed to get an acceptable report from an independent auditor, which is very important.”
According to the report, the increase in production by 25,376 tons, the rise in the variety of products by producing different kinds of papers with less grammage, 57% improvement in the production of three products of brown paper, fluting paper and test liner paper, focusing on the production of the test liner paper having higher margin, and efforts to increase the share of product exports due to the recession in the domestic market were the most important measures and achievements of Kaveh Paper last year.
Planning to reduce energy consumption by 10%, trying to produce optimally and achieve good output, maintaining the 4.2% share of the domestic market, increasing the company’s share of export sales by 20% of production capacity, attracting capitals for new investment at least with the level of 200 billion Rials in the direction of renovation and reconstruction of the pulp line and the renovation of line one were announced as the most important programs of Kaveh Paper Company this year.
It is worth noting that the general assembly was held online through the company’s website and Tapico on which the shareholders could share and view due to the conditions of the corona virus outbreak and according to the instructions of the Securities and Exchange Organization.
