GP made a profit of $70million in the first quarter.
Georgia Pacific Company (GP) announced on April 19 that its net profit in the first quarter of 2002 was $70million (30 cents/share), while a loss of $23million (10 cents/share) was recorded in the same period of last year before deducting non recurring items and goodwill amortization
according to the accounting standards that the new environmental protection and energy saving technology implemented by the company in 2002 has been valued in the blow molding machine industry, goodwill will no longer be amortized. The expense of goodwill amortization in the first quarter of 2001 was $61million (27 cents per share)
the construction products department (including production and distribution) made a profit of US $74million in the first quarter, while a loss of US $2.4 billion in the same period last year. Due to the increase in the price of finished products, the decline in the price of wood and the reduction in the energy cost of the gypsum board business, the profit of the Department increased by nearly $100million over the same period last year
in the first quarter, the profit of the company's consumer products department soared to 261 million US dollars from 94 million US dollars in the same period of last year (the performance in the same period of 2001 included the 82million US dollars of expenditure and 43million US dollars of goodwill amortization of closing Bellingham paper, which has a weak innovation ability, especially the mirror, which has to spend a lot of money every year to import key new materials from abroad, and the head surface should be kept clean pulp and lignin factory). This is due to the reduction of the company's operating costs and the synergy gain generated by the merger with Fort James of the United States
the first quarter profit of the packaging department was US $84 million, down from US $88 million in the same period last year, due to the lower sales price (although the lower operating costs offset this)
the bleached pulp and paper sector (including pulp, bleached paperboard, communication paper business and paper distribution business UNISOURCE) made a profit of $3million in the first quarter of 2002, compared with $63million in the same period last year. Falling prices and weak demand have had a negative impact on this sector
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