AEP Industries has reported net sales and gross profit increased in their full year results due to expanded sales volume and an increase in average selling prices.
The plastic packaging film manufacturer saw net sales increase 18% to US$1.15bn and gross profit increase 42% to $182.7m compared to the prior fiscal year.
Net income for the period ending 31 October 2012 was $23.2m compared to $12.4m in fiscal 2011.
Brendan Barba, chairman, president and chief executive officer, said: “While the economic environment continues to be uncertain, AEP stands out as distinctively able to keep moving to the future.
“We expect the acquisition of Webster and our November 2012 acquisition of the equipment and customer list from Transco Plastic Industries will bolster our product offerings and expand our manufacturing capabilities.”