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Tullis Russell Group Press Corner
Strong Profit Result for Tullis Russell Group Fife-based Tullis Russell, the independent employee-owned quality paper manufacturer and specialist coater group, has reported another strong profit and cash performance.
In the year to 31 March 2005, the group made a pre-tax profit of £4.1m. This result compares with a pre-tax profit of £3.5m last year.
The group’s net positive funds increased from £1.48m at the start of the year to £3.84m at the year end.
Chief Executive, Fred Bowden, remains cautiously optimistic despite extremely difficult market conditions which show little sign of recovery. Bowden said ‘In the year ahead we face further significant cost increases particularly in the areas of energy and raw materials. Against this backdrop market conditions remain difficult. It is therefore vital that we continue our strict cost control regimes, develop our brands and maintain strong operational efficiencies in order to protect our profit margins. We remain cautiously optimistic that this can be achieved’.
For specific comments please contact Fred Bowden (Chairman and Chief Executive) or Chris Parr (Group Finance Director) on 01592 753311.
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