Navigator hits 2-yr high after Q4 profit jumps 68%

Navigator SA

09/02/2022 09:14

** Shares in Navigator  NVGR.LS  rise 5% after Portugal's
pulp and paper producer reported a 68% increase in
fourth-quarter net profit thanks to higher prices stoked by
strong demand  urn:newsml:reuters.com:*:nL8N2UJ4OD
    ** Jefferies says the company "benefited from higher QoQ
vols and average paper prices in 4Q, and ended 2021 with low
inventory levels & record order books"
    ** The brokerage notes as well Navigator's commentary on
"very full" order books and possible further price inreases bode
well for Mondi  MNDI.L , Stora Enso's  STERV.HE  paper division
and to a lesser extend for UPM  UPM.HE  given Finland strikes
    ** Navigator's share hit their highest in over 2 years,
outperforming Lisbon's PSI20  .PSI20  index, which rises 1.2%
    ** Mondi rises 4%, while Stora and UPM edge about 1% higher
    


 (Reporting by Tiago Brandão)
 ((Tiago.Brandao@thomsonreuters.com;))