OREANDA-NEWS. September 02, 2014. China Shengda Packaging Group’s revenues for the 2Q 2014 increased by USD 3.7 million, or 11.2% to USD 37.2 million from USD 33.5 million for the same period of last year, as the company said in the press release received by Lesprom Network.

Gross profit increased by USD 1.7 million, or 34.4%, to USD 6.5 million for the 2Q 2014 from USD 4.8 million for the same period of last year. The increase in gross profit was mainly due to decrease in raw material cost for our paper cartons business as well as narrower gross loss at our paper mill.

Mr. Daliang Teng, CEO of Shengda, commented, "We are pleased to announce solid 2Q results with revenues increasing both annually and sequentially, thanks to continued ramp of the paper mill at our Shuangsheng subsidiary that contributed USD 10.7 million in revenues and more than offset the weakness in our paper cartons business. Our gross margin continued to recover and reached the highest level to 17.4% since the 2Q 2013, benefitting from lower material cost for our paper cartons business and narrower loss at Shuangsheng."

Total revenues for the six months ended June 30, 2014 increased by USD 8.9 million, or 14.8% to USD 69.5 million from USD 60.6 million for the same period of last year.

Gross profit increased by USD 0.5 million, or 5.1%, to USD 10.6 million the six months ended June 30, 2014 from USD 10.1 million for the same period of last year.

China Shengda Packaging Group Inc. is a leading paper packaging company in China. It is principally engaged in design, manufacturing and sale of flexo-printed and color-printed corrugated paper cartons in a variety of sizes and strengths. It also manufactures corrugating medium paper and corrugated paperboards, which are used for the production of flexo-printed and color-printed cartons.