Navigator: shares sink after strong drop in Q4 profit

Navigator SA

12/02/2020 12:50

** Shares in Portugal's Navigator  NVGR.LS  fall 5% after
the paper company reports a 61% drop in its fourth-quarter net
profit from a year before.  urn:newsml:reuters.com:*:nL8N2AC0X3
    ** The shares are set for the steepest daily drop in 10
months. 
    ** Earnings Before Interest, Taxes, Depreciation and
Amortization (EBITDA) fell 23%, reflecting a strong reduction in
pulp prices, smaller tissue volumes and higher production costs,
the company said in a statement.
    ** "Difficult market conditions were the dominant feature of
2019, with a sharp drop in pulp prices and a reduction in demand
for pulp and paper" the company added. 

 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))