Winpak reports Q3 revenue rise

Canadian packaging materials maker Winpak reported a 17% rise in revenue to $170.7m in the third quarter of 2011, helped by demand for its condiment and speciality beverage packaging products.

Revenue for the first nine months of financial year 2011 increased by 13.2% to $480.5m, an increase of $56m compared to the same period last year.

The company's net income for the quarter increased by 9.7% to $14.4m compared to $13.1m in the corresponding quarter of 2010, while net income for nine months increased by 6.6% to $45.3m compared to $42.5m in the comparable prior year period.

Winpak said shipment volumes in rigid packaging increased by over 30% due to demand in condiment and speciality beverage products.