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Sonoco reports rise in Q2 2012 net sales

Sonoco reported a 7% increase in the second quarter 2012 net sales of $1.2bn when compared to $1.13bn in the same period of 2011 and net sales for the first half of 2012 rose by 8% to $2.41bn as against net sales of $2.25bn in first half of 2011.

Gross profits in the quarter increased to $217m against $191m in 2011, while gross profit in the first six months increased by 12.5% year over year to $433.4m compared to $385.3m in 2011.

Net sales of the Consumer Packaging segment for the quarter stood at $477m against $490m in the second quarter of 2011 and sales for the Paper and Industrial Converted Products segment declined to $475m as against $485m in 2011.

The company’s Packaging Services segment reported sales of $108m in the quarter against $126m in 2011 quarter, while the Protective Packaging segment posted an increase in sales of $142m compared to $26m in the second quarter of 2011.

By the end of 2012, Sonoco hopes to meet its goal of achieving annualised synergies of $12m.