Exacompta Clairefontaine reported consolidated earnings results for the six months ended June 30, 2017. For the period, the company reported revenue of €294,764,000 against €294,761,000 a year ago. Sales of products were €291,325,000 against €291,742,000 a year ago. Operating income before good will impairment was €9,652,000 against €7,363,000 a year ago. Operating income after good will impairment was €9,652,000 against €8,226,000 a year ago. Net income after tax was €6,354,000 against €6,020,000 a year ago. Net income-group share was €6,354,000 or €5.62 per basic and diluted share against €6,080,000 or €5.37 per basic and diluted share a year ago. Net cash out flows from operating activities was €42,824,000 against net cash flow from operating activities of €48,531,000 a year ago. Purchase of fixed assets was €16,383,000 against €30,085,000 a year ago. Net income before tax €8,915,000 against €7,332,000 a year ago.

In the second half of 2017, commercial demand may decline, while the increase in paper pulp prices will have a substantial impact on margins. Full-year operating income may drop below the €17,264,000 posted in 2016.