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Richards Packaging Income Fund announces 2024 First Quarter Results
TORONTO, May 2, 2024 /CNW/ - Richards Packaging Income Fund (TSX: RPI.UN) (the "Fund") announced today results for the quarter ended March 31, 2024.
"The first quarter financial performance was in line with the trend set in 2023. March revenue was very soft driven mainly by weak food and beverage packaging sales as the oversupply of inventory continued with both customers and suppliers. Inventory was reduced $4 million which was largely deployed to pay down debt.
First quarter total revenue was down 8.4% with a $8 million impact of oversupply in food, beverage & ...