Supremex announces Q3 2021 results
by CM Staff
The company finished its third quarter with its net earnings at $3.4 million up from $2.7 million last year.
MONTREAL— Supremex Inc. a North American manufacturer and marketer of envelopes and provider of paper-based packaging solutions, announced its results for the third quarter ended September 30, 2021.
In a company statement highlighting financial updates and events for the third quarter, Supremex announced a total revenue increase of 9.9 per cent to $54.8 million up from $49.9 million in the third quarter of 2020.
The company also reported that its envelope segment revenue was up 8.5 per cent to $37 million from $34.1 million in the previous year’s third quarter. Their packaging and specialty products segment revenue also saw an increase of 12.8 per cent to $17.8 million up from $15.8 million in the third quarter of 2020.
According to this statement, Supremex also purchased 292,400 shares for total consideration of $0.7 million as part of the company’s Normal Course Issuer Bid program, which it has renewed over a maximum period of 12 months beginning on August 31st, 2021 and ending on August 30, 2022.
Finally, the company finished its third quarter with its net earnings at $3.4 million up from $2.7 million last year.
“We achieved these results in spite of a negative currency conversion, an extremely tight supply chain for all paper grades and rapidly escalating costs across the board. This is a testament to our product and geographic diversification, the resilience of our business model and a commitment to passing through inflation,” said Stewart Emerson, President & CEO of Supremex, in a press release.
“Operationally, the integration of Vista Graphic Communications is on track and the new equipment has arrived and is in the process of commissioning. Once complete, this will provide our e-Commerce team with much needed capacity in local US markets in addition to improved efficiencies.”