Industry News, Printers News

Sonoco Reports 1Q 2016 Results

First quarter 2016 net sales grew to $1.23 billion, up from $1.21 billion in 2015.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Sonoco reported financial results for its first quarter ending April 3, 2016. Net sales for the first quarter were $1.23 billion, up $20 million or 1.7% from last year’s quarter. This sales growth was due primarily to additional business days and other volume/mix improvements along with acquisition-related sales. These gains were partially offset by a negative translation impact from exchange rate changes of approximately $45 million along with lower selling prices due to lower commodity cost...

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