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The Closure of Its Particleboard Mill in Knowsley Placed an Additional Burden on Earnings

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Core Tip: The closure of its particleboard mill in Knowsley in the UK in mid-September placed an additional burden on earnings reported by Sonae

The closure of its particleboard mill in Knowsley in the UK in mid-September placed an additional burden on earnings reported by Sonae Industria, which were already on the decline. According to its interim report for the third quarter, released on 16 November 2012, Sonae Industria booked value adjustments of €41m in connection with the divestment. This resulted in a loss of -€38m from non-continuing activities in the third quarter. Earnings from continuing operations also worsened to -€14m, meaning that Sonae Industria had to book a net loss of -€51m for the period from July to September.

 
 
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