Pro-Pac Packaging Limited (AU:PPG) has released an update.
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Pro-Pac Packaging Limited reported a quarter ending 30 June 2024 with steady revenue of $69.1 million, slightly up from the previous quarter, despite a challenging trading environment marked by low consumer confidence and reduced export sales to the Middle East. The company saw positive cash flow from operating activities at $6.9 million, thanks to improved working capital, and made significant investments in assets, including completion payments for a new Printing Press and steps towards establishing a soft plastic film recycling plant. Additionally, Pro-Pac announced key management changes with John Cerini becoming the executive Board Chairman and Patsy Ch’ng stepping in as CFO.
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