This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:CCL Industries earns $16.6-million in Q3 2009 2009-11-05 08:07 ET - News Release Mr. Gaston Tano reports CCL REPORTS THIRD QUARTER 2009 RESULTS AND DECLARES DIVIDEND
CCL Industries Inc. has released its financial results for the third quarter ended Sept. 30, 2009, and declaration of its quarterly dividend. Sales for the third quarter of 2009 were $294.3-million, up 2 per cent versus the $289.8-million recorded in the third quarter of 2008, while sales for the first nine months of 2009 were $909.7-million, up 1 per cent over last year's $897.7-million. Sales increased for the quarter due to a 1-per-cent increase from acquisitions in the Label division and 1 per cent in organic growth, with a nominal impact from foreign exchange. The third quarter benefited from improved business conditions compared with the first half of 2009 and financial comparisons have eased significantly as Europe entered into the economic downturn in last year's third quarter. Financial comparisons to the prior year's third quarter results have been nominally affected by the appreciation of the U.S. dollar (5 per cent) and to a lesser degree, the appreciation of the euro (1 per cent) relative to the Canadian dollar, largely offset by the depreciation of the U.K. pound sterling (9 per cent), Mexican peso (18 per cent) and Brazilian real (6 per cent). Year to date, sales increased by 1 per cent, as a result of positive foreign currency translation of 5 per cent mainly offset by an organic decline of 5 per cent, with acquisitions accounting for the remaining 1 per cent. The remainder is available to Stockwatch subscribers.
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