TORONTO, Aug. 1, 2024 /CNW/ - Richards Packaging Income Fund (TSX: RPI.UN) (the "Fund") announced today results for the quarter ended June 30, 2024.
"The second quarter financial performance reflects a slowing impact from weak food and beverage packaging sales as the oversupply of inventory continued with both customers and suppliers. Losses in food & beverage were largely offset by growth in capital revenue in healthcare. Profit from operations was up on relatively flat revenue as higher margins due to improved product mix kicked in. We completed our first tuck under acquisition as part of our current acquisition program late in June which largely affected the balance sheet only.
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