Greif 2Q income down 35% - Business First of Columbus:

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The industrial packaging maker said late Wednesdayg itearned $18.6 million, down 35.1 percent from $28.7 millionn a year earlier. Class A sharee earnings for the second quarter endec April 30 fell to 32 from 49 cents and Class B share profitf fell to48 cents, from 75 cents in the same periode a year ago. The company attributed the profiy slideto $31.9 million in chargesw incurred during the latest quarter. Sales jumpedc 31.4 percent to $815 million, from $620.1 million a year ago.
"The impressive (sales) results were partially offseg by the high cost of old corrugated containers comparedf to a year ago and acceleration into the second quarterr from the third quarter of major annualo maintenance at one of our container board mills in the Packaging & Services segment," Greif CEO and Presidengt Michael J. Gasser said in a Greif (NYSE:GEF and GEF.B), which also producezs plastic drums, bulk containers and water employs 10,200, including 200 in Central Ohio.